Harry Styles leads £4bn in global exports in ‘sign of the times’ for UK music industry
At a moment in time when many things are going awry in the UK, the music industry is an outlier.
British artists are headlining on the global stage, with exports generating £4bn last year, according to new data from umbrella organisation UK Music.
Harry Styles led the pack of top UK musicians ranking worldwide with his third solo album Harry’s House, which birthed multiple global chart-toppers such as ‘As It Was’.
Indie rock band Glass Animals also scored big points for the UK with their hit track ‘Heat Waves’, first released in 2017. Nothing could shift it from the crown place on the Billboard Hit 100 for five weeks.
UK Music interim chief executive Tom Kiehl said: “The UK music industry and its exports have grown beyond doubt to hit new heights.
“However, the competition for international markets is intensifying rapidly.
“South Korea, Australia and Canada have invested heavily in music and cultural export offices to help grow their overseas markets.
“We need far more support – otherwise we risk the UK being left behind in the global music race and that would be a bitter blow for music industry and a missed opportunity to grow our export market,” he added.
Exports minister Lord Offord said the government is tripling funding for the music export growth scheme “to ensure the next generation of UK artists and SMEs can continue to champion British music abroad.”
UK Music’s annual economic report found that the music industry’s contribution to UK economy was £6.7bn in 2022, a year that live music and international touring saw a revival from their muted pandemic days.
UK Music said it cannot compare its figures to previous years due to changes in the way it arranges data from the music sector.
It comes amid growing concerns about the perils of artificial intelligence (AI). Last week UK Music wrote to the Prime Minister warning that AI could harm creators and the sector’s “fragile” talent pipeline.
It has previously said AI firms could take part in so-called ‘music laundering’, using or copying existing content without payment or consent from the creators.