Published on : Thursday, November 21, 2019
The statistics comprise money spent on tickets, merchandise and accommodation along with organizers spending on managing an event.
The report explained that last year the total contribution of the music industry to the economy of the UK was £5.2bn, in general.
The financial analysis for the ‘Music by Numbers 2019’ report was conducted together with Oxford Economics.
UK Music evaluates the UK music businesses health every year by collecting data about the contribution of the industry in goods and services to the UK economy
Their recent report with data for 2018, which has just been made to the public, explained that the UK music industry grew in every sector.
This comprises revenues generated from live music, employment in the industry, music tourism, retail and exports.
That is regardless of the challenges including “an increasing complex online market, where platforms are often incentivized to avoid fairly rewarding creators,” along with concerns about the effect of Brexit and increasing business rates.
The report mentioned that in 2018, about 294,000 music lovers had visited Northern Ireland to go to a festival, show or gig.
That figure covers both overseas as well as domestic visitors; however, as the report classifies domestic visitors as tourists if they were not “local” to the events they attended.
If someone in Northern Ireland travelled around 35 miles to participate in a concert, gig or festival they were classified as a domestic tourist.
As per UK Music, there were 30,000 overseas music tourists in Northern Ireland in 2018 and 264,000 “domestic tourists”.
Tags: northern ireland