Live music revenue in the UK to hit all-time high in 2023
Live music revenue in the UK is set to surpass the pre-pandemic peak from 2019 this year.
According to a study carried out by international professional services firm PricewaterhouseCoopers – PwC – revenue will grow by 7.4% per year until 2027.
Elsewhere, PwC predicts that the UK live music market will generate £1.63bn in 2023, compared to the £1.54bn from 2019. Live music sponsorship will total £420m, while overall ticket sales will total £1.2bn.
PwC said that the 7.4% rise until 2027 will mean that live music revenue reaches a total of £1.95bn, a 27% increase on the figure from 2019, while ticket sales will reach 1.43bn and sponsorships will reach £527m by 2027.
The numbers come courtesy of the company’s Global Entertainment and Media Outlook, which covers 2023-2027 and claims “going out is in again”.
PwC reported that the UK’s live music market increased from £1bn to £1.33bn last year and as a whole will reach $2.5bn by 2027.
Got a question you need an answer to? Give us a call on 03333010301 or ask us a question over on the Skiddle Promoter Twitter account by clicking or tapping on the button below. Alternatively, you can also find a list of our most frequently asked questions over at https://help.promotioncentre.co.uk/
