In 2024, the UK music industry experienced a historic surge, with Taylor Swift and Charli XCX leading the charge in attracting a record-breaking 23.5 million music tourists who injected a staggering £10 billion into the economy. This remarkable achievement marked a significant 26% increase in spending compared to the previous year, as detailed in the “Hometown Glory” report released by UK Music.
The report underscored the immense economic impact of live concerts and festivals across all regions of the UK, emphasizing the need for continued community support to sustain this growth trajectory. Notably, the total number of music tourists soared by 23% from the previous year, with domestic visitors accounting for 21.9 million and international tourists witnessing a remarkable 62% surge to 1.6 million, bolstered by events like Taylor Swift’s Eras Tour.
Besides Swift and Charli XCX, a lineup of acclaimed artists including Bruce Springsteen, Sam Fender, Dua Lipa, Olivia Rodrigo, The Killers, and Foo Fighters significantly contributed to the industry boom. This surge in music tourism also translated into the creation of 72,000 full-time equivalent jobs in the live music sector, reflecting a notable 16% increase from the preceding year.
The £10 billion expenditure by music tourists encompassed £5.1 billion directly on tickets, travel, accommodation, and on-site purchases, with an additional £4.9 billion indirectly supporting the supply chain. Despite these achievements, the report highlighted challenges such as escalating touring costs, venue closures, and the overarching cost-of-living crisis.
UK Music’s Chief Executive, Tom Kiehl, underscored the importance of empowering local communities to nurture their music scenes, fostering economic prosperity and cultural vitality. Culture Secretary Lisa Nandy commended the UK’s prowess as a live music hub, attracting top-tier acts, millions of fans, and bolstering local economies through tourism and job creation.
Nandy also highlighted the government’s commitment to the music industry, including the recent £30 million Music Growth Package aimed at supporting emerging talent and safeguarding essential music venues. The collaborative efforts of artists, industry stakeholders, and policymakers are crucial in sustaining the UK’s position as a global music powerhouse.
As the music industry continues to evolve, the success of 2024 serves as a testament to the enduring appeal of live music and its profound economic impact. By fostering a supportive environment for artists and audiences alike, the UK music scene is poised for further growth and innovation in the years to come.
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