UK EXPORTS GROW—BUT GVA DOWN AS GRASSROOTS SLUMPS
It was a year of mixed fortunes for the British live biz, with a huge jump in export revenue but slight decrease in overall value
By Jon Chapple on 12 Sep 2016
image © London Music Board
The value of the British live music industry contracted slightly in 2015, hit by a decline in revenues from the UK’s dwindling network of small- and medium-sized venues.
The 2016 edition of UK Music’s Measuring Music report, released today, reveals the gross value added (GVA) by the live sector to the UK economy last year fell to £904 million – down from £924m in 2014 – attributed by the industry group’s chief executive, Jo Dipple, to “a drop in concert revenue from grassroots music venues”.
In her foreword to the report, Dipple says grassroots venues “need investment now. Music Venue Trust argues that a 10% increase in attendance at grassroots venues would generate an additional £13m in ticket revenue. This cannot happen whilst grassroots music venues are forced to close, if they lack the investment to modernise or if new ones aren’t built.”
While a 2% decline in GVA is by no means good news, £904m is still a significant improvement over 2013 (when the figure stood at £784m), and all other areas of the live sector grew in 2015.