UK: ”UK music industry will halve in size due to Covid, says report”

The UK music industry is set to halve in size this year as issues including an effective shutdown of concerts, gigs and festivals strip £3bn from its contribution to the economy.

UK Music, the umbrella organisation representing the commercial music industry from artists and record labels to the live music sector, has revealed that the industry grew by 11% last year to be worth £5.8bn to the UK economy.