As lovers of music we tend to be occupied with the artistic side paying little attention to the state of the arts.

Though there has been an ongoing debate on the impact of decreasing funds and closure of venues, the UK music industry seems to still be blooming, showing a growth of 6% according to a major new report. Not only is the industry growing, it also contribute £4.4 billion pounds to the economy, a considerable amount over all.

It’s internationally successful acts such as Ed Sheeran, Adele, Coldplay, Skepta and the Rolling Stones that mainly contribute to the export of British music with rise of 13% in 2016.

Other contributing factors are fan culture with money pouring in through concert ticket sales ranging from big scale events such as Glastonbury down to local shows in small bars and venues. Over all the contribution from live music soars with a rise of 14% in 2016 to a total of £1 billion. UK Music chairman Andy Heath points out the distinct difference in revenue when it comes to live versus recorded music: “Live music continues to thrive with a 14% rise on the previous 12 months and the recorded sector has turned around with a 5% rise in 2016.” Though both sectors are on the rise, the importance of live music thrives.

Though these numbers are uplifting, it also shows that there are the few globally successful artists that are responsible for a majority of the success, proving that, though Britain still is one of the greatest exporters of music, the independent and lower scale artists and labels might not enjoy the same rate of success and economical safety.

As UK Music chief executive Michael Dugher states: “We urgently need to address the ‘value gap’ on the new and exciting platforms that many people now use to listen to music. Unlike subscription services, those platforms often offer little adequate reward to the investors and creators of the music that drives so much of their traffic.

“There is still too often a culture of denial from the big tech firms. The way people listen to music may be changing, but certain fundamental responsibilities must continue. It’s time for the free ride to come to an end.”

The full impact of Brexit on international export and tour revenue is yet to be seen and it poses the question if we’ll see a further growth or a decline in the economical value of British music.