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Live music brings in a whopping £864 million to UK economy

Live music festivals and concerts contribute £864 million to the UK economy.
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Live music festivals and big draw concerts held in the UK generate at least £864 million for the UK economy, a new survey has revealed.

The study, which was conducted by UK Music, said that this was the equivalent of at least 19,700 jobs.

All of these music events attracted a combined audience of at least 7.7 million domestic and overseas music fans, at which they collectively spent up to an outstanding £1.4 billion.

The report also showed that although five per cent of music tourists came from overseas, they contributed a massive 18 per cent of total music tourist spending.

Feargal Sharkey, chief executive of UK Music, said: "I am hugely excited by the findings of this research. Its message is crystal clear: music provides a huge boost to UK tourism, it drives growth, it sustains thousands of jobs across all regions and it enhances our lives."

In response to these findings, UK Music, which is an organisation that represents the interests of the UK's commercial industry, said that it would like the government to consider implementing a national live music tourism industry.

The study also revealed that the huge Glastonbury Festival alone contributes £100 million annually to the UK economy.

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Posted on 16 May 2011 18:40 to category : Music News

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