UK music contribution to the UK economy in 2024 hit a record £8 billion. Photo: Shutterstock.
UK Music, of which the MU is a member, is the collective voice of the music industry. It has now released its annual economic report, This Is Music 2025, which outlines the huge contribution the UK music industry makes to the economy – but also highlights some of the major challenges the sector faces.
Headline figures
The key headline statistics in the report are:
- UK music contribution to the UK economy in 2024 hit a record £8 billion
- UK music exports revenue in 2024 reached a new high of £4.8 billion
- Total UK music industry employment in 2024 rose to a record high of 220,000.
Remaining challenges
UK Music’s Chief Executive Tom Kiehl welcomed the figures but warned that the UK music industry faced a number of challenges that threatened its world-leading status.
The challenges facing the sector covered in depth in the report include:
- Impact of AI
- Lengthening artist development cycle
- Threat to grassroots ecosystem
- EU touring and cultural exchange.
UK Music is calling on the Government to take urgent action in key areas to help boost growth, exports and jobs in the music industry.
Read more from UK Music or view the full This is Music 2025 report.