UK Music has released a report finding that about one third of U.K. music industry jobs have been lost due to the COVID-19 pandemic.
UK Music acts as an advocate representing all sectors of the music industry. Every year, the organization releases a report called This is Music, the latest edition of which details the economic impact music has on the U.K. economy.
One key piece of data paints an alarming picture: in 2020, music industry jobs dropped to 128,000. In 2019, it was 197,000 – meaning there was a 35% decrease.
This drop in employment devalues the music industry by billions of pounds. Artists’ income dropped by 40% thanks to COVID-19 precautions preventing them from performing live shows (typically their primary source of income). Live music revenue also saw a 90% drop, down to a couple hundred million pounds. This is in stark contrast to pre-pandemic levels.
Many industry professionals struggle to get by during the pandemic due to their status as self-employed contractors. Musicians, in particular, relied on personal savings, royalties, and publishing deals to make ends meet.
Despite all this, one sector managed to thrive during the pandemic: music streaming services. Many attribute this to music consumers having a lot more free time on their hands.
A recent report from the Night Time Industries Association (NTIA) found similar music industry employment numbers.
