The UK government's first long-term music strategy has brought a much-needed boost to the country's live music industry, with a £45 million growth fund, lighter-touch festival licensing, and a two-year freeze on business rates bills for venues. This development is a significant step forward for the sector, which contributes at least £8 billion to the economy. The strategy focuses on supporting small businesses and independent operators that make up the majority of the industry.
The Music Growth Package, which has been increased to £45 million, will support over 2,000 projects and at least 40,000 artists and music professionals over three years. For the first time, the funding will also be open to mid-career artists, band managers, labels, and publishers, many of whom are small firms and freelancers. This move is expected to have a positive impact on the development of talent in the industry.
Festival and event organizers are likely to benefit from the licensing reforms, which include an increase in Temporary Event Notices from 15 to 20 per year, with total event days rising from 21 to 26. Festivals will also be offered longer licenses, with a minimum of three years for new events and five years for existing ones. Additionally, a 15% business rates relief for live music venues has been confirmed, with bills frozen for the next two years.
The Night Time Industries Association, which represents clubs, bars, and late-night operators across the UK, has welcomed the government's plan, saying that many of the sector's priorities have been reflected in it. The association's chief executive has expressed encouragement at the government's commitment to recognizing music as one of the UK's greatest cultural and economic assets.
Despite the positive developments, the industry still faces underlying pressures, with research warning that the late-night economy could lose 10,000 businesses and 150,000 jobs by 2028 without intervention. However, the government's plan is seen as a strong foundation for the industry's future, and stakeholders are looking forward to continuing to work with the government and industry partners to help deliver it.
For small and medium-sized enterprises (SMEs) that keep Britain's stages lit, the plan is a foundation rather than a fix. However, after years of asking the government to listen, the industry is welcoming the government's commitment to supporting the sector. The plan is seen as a positive step forward, and stakeholders are hopeful that it will help to secure the long-term sustainability of venues, clubs, and independent operators.
