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Value of UK music industry hits record £7.6bn thanks to superstar tours
Live shows from acts including Coldplay, Elton John, Beyoncé and Ed Sheeran help drive revenues
The value of the UK music industry has hit a record £7.6bn after superstar acts including Elton John, Beyoncé, Coldplay and Ed Sheeran embarked on Covid-delayed tours to cash in on pent-up fan demand for live shows. The live music boom also meant that industry employment hit a record high of 216,000 full-time equivalent posts last year, up 3% from 210,000 in 2022. “Increasing global competition, tough financial conditions for artists and the grassroots, as well as the wild west that is generative AI, are all conspiring to be significant challenges for the sector.
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