UK Live Music Industry Hits Record £6.1bn Economic Impact in 2023

Major tours by artists like Elton John and Beyonce fueled a 17% growth, but grassroots venues continue to struggle.

The live music sector's economic contribution in 2023 marked a 35% increase from pre-pandemic levels.
London led the revenue generation, accounting for over 30% of the total impact.
Despite the overall growth, 125 grassroots music venues closed last year due to rising costs.
Calls for a VAT reduction on live music tickets to support smaller venues and artists are growing louder.
Taylor Swift's and Oasis's tours further highlight the sector's significant economic influence.