by Gabriela Yorgova
The music industry has been impacted by the cost-of-living crisis. Many musicians have been struggling to continue performing due to rising energy costs.
The public is still attending music concerts and enjoying CDs and vinyl records. However, street performances, including those in stations, are becoming more and more popular.
The impact of the cost-of-living crisis
According to research by the charity Help Musicians, 98% of musicians in the UK believe that the cost-of-living crisis will impact their careers. Ninety percent of the responders are worried about their food costs due to a change in their incomes.
Not only do they have to cope with the rising bills, but they also must recover from the effects of the Covid pandemic, which lasted more than a year and left many artists unemployed.
“The industry has been hit by rocketing costs right across the supply chain, and unless venues, studios and other music businesses get the help they need, there is a serious risk that they could be forced to close their doors for good,” UK Music was quoted as saying in The Guardian.
Alex Tudor, a singer and saxophonist, said: “Musicians used to make more money before.” He added that inflation affects not only this industry but all the people when it comes to groceries and other bills.
The saxophonist, who is also a business and management student, said that people prefer DJs to a team of musicians when it comes to music choice at private events – because it is cheaper.
The public also sees changes in the music industry – financial changes, venues, and live performances. Nia Nikova, a Graphic Design student, said: “The cost of living crisis will definitely affect all areas of art including music. Less people will be able to afford to sustain their hobbies or attend live performances.
“It might push artists to focus more on streaming services and online marketing rather than tours, concerts, gigs, etc.”
Independent music vs record labels
“Recording productions are a problem because they make people with money famous,” said Tudor, the 28-year-old musician.
He plays music at events, such as weddings, and at public places like Covent Garden. He uses this opportunity to make himself known.
On the Internet, listeners can explore many artists and their music. One convenience is that new tunes from all around the world can be explored without the need to travel. This is one of the reasons why Tudor believes that online streaming platforms do not have disadvantages.
As an independent musician, he believes that “[to be a great musician], you need to be a psychopath to stay and learn.” He added that it requires a lot of work and ambition to be a successful musician that people enjoy listening to.
Susan, 54, works in Islington. She did not want to give her surname but said: “The buskers… they are amazing! I love how they have card machines now… But it’s good that they have licences now.”
Help from organisations
The Musicians’ Census is a project from Help Musicians and the Musicians’ Union. Everyone who recognises themselves as a musician, who earns money or is planning to make a career in the industry, can take part. After estimating how many people are involved in the music industry, organisations will be able to understand the scope of people that need support and help them, especially amid the cost-of-living crisis.
The Musicians’ Census is also supported by many organisations including Arts Council England, the Association of British Orchestras, UK Music and more.
Rising ticket prices
Rising ticket prices are one of the attempts of independent venues to survive amid the cost-of-living crisis. According to a YouGov survey, 52% of the respondents strongly oppose an increase in ticket prices for live-music events. With all the food and energy costs rising, dynamic pricing of tickets would help them with expenses during tours, which was suggested by Ticketmasters.
Tyler D. from Essex said: “Tickets are so hard to get hold of, and it’s always such a big queue online or on Ticketmasters.”
The 25-year-old woman, who also didn’t want to give rher surname, said she once waited in a queue to buy a ticket for Chris Brown’s concert. “You just couldn’t get tickets because there were so many people waiting. Until now, and they’ve put the tickets like double. £300 – 400 for the same tickets, so I said ‘no… no chance!’”
In 2022, research conducted by the Competitions and Markets Authority (CMA) revealed that music streaming services are bringing in about 80% of the overall revenue for the industry.
The public can support musicians by attending concerts and other performances, buying albums and sharing their pieces with friends and family. Music is a form of entertainment that could be and should be supported so that artists could continue performing not just as a hobby.
Leave a Reply