According to a survey yesterday, the music industry in Britain was worth £8 billion ($10.5 billion) in 2024, but the sector’s future is uncertain due to Brexit and AI.
According to the annual report from UK Music, an umbrella organization for the industry, the UK economy benefited from tours by Taylor Swift and Take That last year.
Charli XCX and Lola Young’s global popularity reportedly contributed to a rise in music exports.
While there was an increase, the report noted that it was lesser than the double-digit rises seen right after the COVID-19 pandemic.
UK Music CEO Tom Kiehl issued a dire warning, citing the “need for urgent action” in response to the many threats facing the music industry.
A lot will depend on the “progress it makes in regulating artificial intelligence and unlocking EU touring,” he added, when evaluating the UK government.
“Still bad and getting worse” is the way the research described the effects of Brexit, which include higher touring expenses, more bureaucracy, and a decline in bookings from EU clients for recording studios.
Meanwhile, UK Music found that 2/3 of the music creators asked are worried about the impact of AI on their careers.
There should be safeguards to prevent the unauthorized use of creative works, according to 90% of British music creators.
In its Data (Use and Access) Bill, the British government intends to facilitate data access for artificial intelligence businesses by creating a copyright exception for commercial AI training.
The proposed legislation has sparked a strong reaction from the cultural industry since it would allow corporations building AI models to access specific content without the requirement for consent from creators.
About the Author
