A UK Music study, published in The Guardian, has found attendance to UK concerts and festivals has increased by 12% to 30.9 million, which they believe is an all time high. With revenues of £4bn, live music has solidified its place as one of the biggest money-makers for the UK economy, and one of the most profitable parts of the music industry as a whole.
It’s not just UK nationals that are driving up these figures, either. In 2016, one million people travelled from overseas to watch live music in the UK, spending an average of £850 on their entire trip.
There is a downside to this report, though. Despite the overall growth of the UK live music industry, small venues with under 1,500 capacity have still been struggling. Music fans will know that these smaller venues have often been subject to closure in recent years, especially in London.
Even though it may be making a lot of money in its current state, it is important to safeguard the UK’s smaller music venues too, as these are a crucial part of the country’s musical DNA.