{"id":3902,"date":"2013-12-31T06:20:44","date_gmt":"2013-12-31T06:20:44","guid":{"rendered":"http:\/\/skylight.gr\/administrator_wordpress\/index.php\/2013\/12\/31\/true-value-of-music-industry-to-uk-economy-revealed\/"},"modified":"2013-12-31T06:20:44","modified_gmt":"2013-12-31T06:20:44","slug":"true-value-of-music-industry-to-uk-economy-revealed","status":"publish","type":"post","link":"https:\/\/skylight.gr\/index.php\/2013\/12\/31\/true-value-of-music-industry-to-uk-economy-revealed\/","title":{"rendered":"True Value Of Music Industry To UK Economy Revealed"},"content":{"rendered":"<p><span class=\"normal\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/upload.wikimedia.org\/wikipedia\/en\/thumb\/a\/ae\/Flag_of_the_United_Kingdom.svg\/800px-Flag_of_the_United_Kingdom.svg.png\" border=\"0\" width=\"220\" height=\"110\" \/><br \/>This is made up of: \u00a31.6bn from musicians,  composers and songwriters; \u00a3634 m from recorded music; \u00a3662m from live  music; \u00a3402m from music publishing; \u00a3151m from music representatives;  \u00a380m from music producers, recording studios; \u00a31.4bn the value of  exports; 101,680 full time jobs. UK Music have release an in-depth report into the music industry&#8217;s  contribution to the economy. UK Music has assessed the economic  contribution of the music industry in terms of GVA, exports and  employment  <!--more-->  <\/p>\n<p> * GVA is the contribution by the industry to GDP<br \/> * Exports are the component of this contribution generated by revenues from outside the UK<br \/> * Employment is the number of jobs sustained by this contribution<\/p>\n<p> This is the most exhaustive study to date on the economic contribution of the core UK music industry.<\/p>\n<p> Existing estimates of the contribution of the music industry to the  British economy are flawed. Government is reliant on ONS for the data  they publish about the creative industries. This is bound by  international standards which represent music poorly. As ONS data  depends on these standards, data on the music industry is weak.  Government cannot tease out the separate contribution of music and has  to put music data together with other creative sectors. Government  therefore cannot report on the music industry as a stand-alone industry  because of the weakness in the data. The national accounts fail the  music sector:<\/p>\n<p> \u0095 The music industry is not categorised as a specific industry. Music  companies are widely dispersed across many SIC codes in the national  accounts making it impossible to accurately analyse the sector.<br \/> \u0095 Even within the most relevant SIC codes that exist in the national  accounts, music cannot be disaggregated from a much wider group which  includes all of the performing arts (dance, theatre, opera, circus,  comedy, variety) and visual arts (galleries, etc).<br \/> \u0095 Difficulties in accurately capturing and reporting on the music  industry&#8217;s large proportion of micro-companies, sole traders and  freelancers mean that their contribution to GVA cannot be attributed to  the music industry in official estimates<\/p>\n<p> Commenting on the report, UK Music CEO Jo Dipple said: &#8220;This shows for  the very first time exactly how much music &#8211; in all its guises &#8211;  contributes to the UK economy in terms of GVA, exports and employment.  It shows that British music is a substantial contributor to the economy.  Our music might be fun, but it is also a formidable asset to the UK.<\/p>\n<p> &#8220;Government has said it wants to support the creative industries but  until now they have not had the precise data to hand. They do now.<\/p>\n<p> &#8220;A realistic picture of the how the industry is made up will lead to a  better understanding of what investment and regulatory environment is  needed to help our industry thrive. It is a great UK success story, but  now it can be even better understood and developed.&#8221;<\/span><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span class=\"normal\">Source: UK Music<br \/><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is made up of: \u00a31.6bn from musicians, composers and songwriters; \u00a3634 m from recorded&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[23],"tags":[],"class_list":["post-3902","post","type-post","status-publish","format-standard","hentry","category-music-news"],"_links":{"self":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts\/3902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/comments?post=3902"}],"version-history":[{"count":0,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/posts\/3902\/revisions"}],"wp:attachment":[{"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/media?parent=3902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/categories?post=3902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/skylight.gr\/index.php\/wp-json\/wp\/v2\/tags?post=3902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}