New data reveals that the UK live music industry achieved remarkable success in 2024, concluding the year with record consumer spending. According to the LIVE (Live music Industry Venues & Entertainment) group, which encompasses various trade bodies in the sector, the Annual Report & Economic Highlights 2024 illustrates both the economic vitality and cultural significance of live music across the UK. However, the report simultaneously highlights growing challenges within the grassroots music scene, echoing concerns seen in other countries, including the United States.
The report indicates that consumer spending on live music reached an unprecedented £6.68 billion, marking a 9.5% increase year-on-year and a significant 28.2% rise compared to 2022. This growth not only surpasses pre-pandemic levels but also outpaces the global recorded music industry, which saw a more modest growth of 4.8% during the same period, according to Goldman Sachs. Concerts have been the primary driver of this surge, with revenues climbing by 12.2% and accounting for three-quarters of live music spending. In contrast, the festival segment experienced a more limited growth of 1.9%, hindered by high operational costs and inflationary pressures.
Record Growth Amid Grassroots Struggles
Despite the overall positive economic indicators, the grassroots music scene is facing significant challenges. The report highlights that in 2024, 78 festivals were forced to close, and many smaller venues struggled to survive. This precarious situation has led to concerns about the sustainability of smaller venues, promoters, and festivals, which serve as essential platforms for emerging talent. Jon Collins, CEO of LIVE, emphasizes the dichotomy within the industry: “Talent is everywhere, opportunity is not.”
The findings also reveal that 23.5 million music tourists, both domestic and international, attended UK concerts and festivals in 2024. The phenomenon of Taylor Swift’s Eras Tour alone is estimated to have contributed £1 billion to the UK economy. Other prominent artists, including Charli XCX, Bruce Springsteen, Dua Lipa, and Sam Fender, also played pivotal roles in transforming cities into vibrant cultural hubs. The concert calendar was so packed that the report noted, “In 2024, there was a live gig somewhere in the UK every 137 seconds.”
Employment and Economic Contributions
The impact of live music extends beyond entertainment, supporting a robust workforce. In total, the industry provided 234,630 jobs in 2024, reflecting a 2.2% growth from the previous year and nearly 12% higher than in 2019. A significant portion of these jobs, approximately four in five, are casual positions, highlighting a post-COVID shift towards freelance and temporary roles. A study conducted by Powered by Freelancers revealed that while 73% of those surveyed find live music to be a rewarding industry, over half reported challenges in securing consistent work, with many facing abrupt cancellations and a lack of formal contracts.
Geographically, London continues to dominate the live music landscape, attracting 28.9% of total spending and an even larger portion of concert revenues. Meanwhile, cities like Manchester (8.1%) and Glasgow (5.7%) are solidifying their positions, bolstered by developments such as the newly opened Co-op Live arena. Festivals have also been instrumental in generating revenue for rural economies, particularly in Central and South West England.
The report further reveals genre trends, with pop music leading the way, accounting for 32.1% of total spending. This dominance reflects the success of large-scale pop tours, while electronic, alt-rock, folk, and classical music also gained traction. The increasing popularity of Latin artists across various genres underscores the evolving preferences of audiences.
The live music industry is responding to these challenges through initiatives like the LIVE Trust, a new charity created to support grassroots venues and artists. Funded by a voluntary £1 per ticket levy on larger events, the Trust aims to redistribute resources from major concerts to smaller venues and festivals, thereby reinforcing the foundation of the live music ecosystem.
As 2024 closes, the UK live music industry presents a complex picture of triumph and vulnerability. While major events generate billions in economic value and cultural significance, the struggles faced by grassroots venues and festivals pose a serious risk to the future of the sector. The ongoing political landscape, influenced by Labour’s return to power, may provide opportunities for addressing longstanding issues such as EU touring restrictions and ticket touting. Early commitments have been made, but the successful implementation of these initiatives will be crucial.
In summary, the latest report encapsulates an industry at a crossroads, where the need to protect opportunities for emerging artists and grassroots venues will determine the UK’s live music ecosystem’s resilience and global standing in the years to come.
