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>
The cultural impact of music is also invaluable. According to UK Music\u2019s 2021 \u2018This is Music\u2019 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\u2019s 2021 \u2018This is Music\u2019 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>
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