Live music events are worth over £1bn to UK economy
Date Posted: 16/05/11
Live musical events such as Glastonbury, T in the Park and Leeds Festival contributed nearly £1.5 billion to the UK economy last year, according to new research.
Those booking short breaks spent money on everything from tickets and beer to waterproofs and bacon sandwiches, with nearly eight million people taking in a gig in 2010.
Feargal Sharkey, chief executive of UK Music, said that the scale of how much money the industry can bring in is "colossal".
"What other industry apart from music has the power to transform an utterly mundane pedestrian crossing in north London into an international tourist spot?" he said, referring to the famous zebra crossing featured on the Beatles' Abbey Road album.
Furthermore, research showed that in 2009 music lovers spent £196 million on concerts, with £47 million being put towards enjoying a weekend at a festival, with hotels and restaurants also benefitting.
In the next few months, both Glastonbury and the Reading and Leeds festivals will see thousands of people gather to hear some of the top music from around the world.
Posted by Louise Millard
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