The Live Music Crisis: Challenges Facing the Industry
Is live music facing an unprecedented crisis? Discover the major challenges shaking the industry and what it means for the future of concerts and events for artist big and small.
The Live Music Crisis: Challenges Facing the Industry
In the wake of the Oasis reunion headlines, it would be easy to think the only problem with live music is the exorbitant cost of tickets. Sadly that’s not true.
On their first UK tour in 1994 Oasis played at 34 grassroots music venues (GMVs) 23 (67%) of those venues have now closed. Grassroots music is in crisis, and unless we wake up to the realities, the future looks bleak.
The harsh realities facing Grass roots live music
- In their latest report, The Music Venue Trust confirmed an average of two GMVs closed every week in the UK in 2023
- Over a third of the remaining UK grassroots music venues currently operate at a loss
Why should you care?
GMVs are a key part of our economy. The creative sector accounted for £115.9 billion – almost 6% of the UK’s entire economy. That’s more than the aerospace, automotive and life sciences industries combined. GMVs contribute over £500m to the economy and employ almost 30,000 people.
Music festivals cancelled
This crisis also extends beyond venues. As of August 2024, 60 UK music festivals have been cancelled, postponed, or closed in 2024. This number is expected to rise to over 100 by the end of the year.
Live music profits soar
Meanwhile, in stark contrast to the doom and gloom of grassroots music,