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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Value of UK music industry hits record £7.6bn thanks to superstar tours

UK Music United Kingdom Beyoncé Ed Sheeran Elton John Coldplay Tom Kiehl Harry Styles Covid-19
Coldplay perform at the 2024 Glastonbury festival.
Coldplay perform at the 2024 Glastonbury festival. The band began a world tour this year. Photograph: Joe Maher/Getty Images

The value of the UK music industry has hit a record £7.6bn after superstar acts including Elton John, Beyoncé, Coldplay and Ed Sheeran embarked on Covid-delayed tours to cash in on pent-up fan demand for live shows.

UK Music, the umbrella organisation representing the commercial music industry from artists and record labels to the live music sector, said that the economic value of the industry to the UK economy surged by almost £1bn in 2023.

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