UK Music has published its This Is Music 2022 annual report, which reveals how the sector began to recover post-Covid. 

Unveiling the report, UK Music Chief Executive Jamie Njoku-Goodwin said the economic findings showed why the Government
should act to support the music industry, which still faces a “major threat from strong economic headwinds”.

The key findings in This Is Music – based on data collated from across the music industry in 2021 – include: 

  •  UK music industry’s contribution to UK economy in 2021 was £4 billion – up 26% on the £3.1 billion figure for 2020, but still down 31% on the pre-Covid all-time high of £5.8 billion in 2019. 
  • Employment in the music industry rose to 145,000 jobs in 2021 – up 14% on the 128,000 jobs in 2020, but still down 26% on the pre-Covid record of 197,000 jobs in 2019.  
  • Exports in the sector rose in 2021 to £2.5 billion – up 10% on the £2.3 billion figure in 2020, but still down 15% on the £2.9 billion in 2019. 

The data shows that in 2021 the sector was recovering from the initial impact of the pandemic but that urgent support was needed from the new Prime Minister Liz Truss, and the Government, to reduce the tax burden on the music industry, incentivise investment and help boost exports. 

Paul Clements, CEO, MPA Group said:
“We welcome the UK Music This is Music 2022 report and the five-step Vision for Music plan which seeks to address key issues facing our sector,
including Covid-19 recovery and protecting intellectual property.

We share UK Music’s vision to treat and respect music as a valued national asset.”

Read more here.

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