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<p>The music industry is vital to the economy and culture of the UK. In 2019, the
music, performing and visual arts sector contributed an estimated £10.5bn in GVA to
the UK economy. PRS for Music, the organisation that pays royalties to over 160,000
songwriters, composers, and music publishers, saw overall revenues in 2021 reach £777.1m,
a 22.4% increase on 2020.</p><p>The cultural impact of music is also invaluable. According
to UK Music’s 2021 ‘This is Music’ Report, the UK public listens to an estimated 60
billion hours of music a year. Songwriters and composers form the bedrock on which
the overall success of the music sector is built. Despite the challenges of Covid-19,
songwriters and composers continued to have significant impact; UK Music’s 2021 ‘This
is Music’ Report states that over 5 million songs and compositions were registered
with PRS for Music, nearly one third more than in 2019. The Government wants to ensure
this success continues.</p><p> </p>
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