UK Music Business Continues to Grow, Generating Record £5.2 Billion in 2018

helped Britain's music business grow to a record £5.2 billion in 2018, according to a new report from umbrella trade organization UK Music.

The live sector also grew by 10%, generating £1.1 billion , with just under 30 million people attending live music events in the U.K. in 2018 . Around 5 million of those were music fans going to festivals, a 23% rise in audience numbers on the previous year. Meanwhile, full-time employment in the music industry reached an all-time high of 190,935.

Breaking down the figures, which measure how much the music industry contributes to British economy, rather than just sales, record labels generated £568 million , a rise of 5% on the previous year. The lion's share of that total came from exports, which grew by 8%. More than 5,000 people currently work in the British recorded music sector, say UK Music.

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