The majority of the music industry money and wealth is generated by the creators, UK Music CEO Jo Dipple has said.
Jo made the comments during a key note address at City Showcase’s Finding the Future event in London.
She quoted UK Music figures from its recent Measuring Music Report, showing that the sector had outperformed the rest of the British economy. Findings from the publication revealed that the industry enjoyed growth of five percent year-on-year to contribute £4.1bn to the UK economy in 2014.
Jo said: ‘If you break down which bits of the industry create wealth and money, the majority of the money is generated by the creators, the artists, the musicians, songwriters and composers.
‘It still surprises people that this industry is based almost entirely on the creators that make the music that the rest of the industry record, publish and produce.’
According to the report, musicians, composers, songwriters and lyricists alone contributed £1.9bn to the economy. She also discussed the importance of UK Music’s reports in ensuring the government takes the sector seriously.
‘Lots of people treat music as a fun pastime, something we do in our spare time, after work, at our weekends,’ Jo said.
‘But really many of the policies developed in government impact musicians, how they make a living, the way we licence on pan-European basis, copyright law - it really affects the individual creator and musician.’
The Finding Future event runs 18-20 November at the Apple Store in Covent Garden, London.
Find out more.
Jo made the comments during a key note address at City Showcase’s Finding the Future event in London.
She quoted UK Music figures from its recent Measuring Music Report, showing that the sector had outperformed the rest of the British economy. Findings from the publication revealed that the industry enjoyed growth of five percent year-on-year to contribute £4.1bn to the UK economy in 2014.
Jo said: ‘If you break down which bits of the industry create wealth and money, the majority of the money is generated by the creators, the artists, the musicians, songwriters and composers.
‘It still surprises people that this industry is based almost entirely on the creators that make the music that the rest of the industry record, publish and produce.’
According to the report, musicians, composers, songwriters and lyricists alone contributed £1.9bn to the economy. She also discussed the importance of UK Music’s reports in ensuring the government takes the sector seriously.
‘Lots of people treat music as a fun pastime, something we do in our spare time, after work, at our weekends,’ Jo said.
‘But really many of the policies developed in government impact musicians, how they make a living, the way we licence on pan-European basis, copyright law - it really affects the individual creator and musician.’
The Finding Future event runs 18-20 November at the Apple Store in Covent Garden, London.
Find out more.
