Live gigging could deliver £2.4bn boost to hospitality, CGA says

Live music could be worth up to £2.4bn in revenue for the hospitality sector, a new nationwide survey conducted by the CGA by NIQ found. 

The Live Music Index, which was based on more than 1,000 artists and over 500 venues, revealed that by creating a stage for musicians to perform, an individually managed pub or bar could see their sales soar by an average £107k a year. 

The survey was commissioned by live music marketplace GigPig, in conjunction with the Night Time Industries Association, Live music Industry Venues and Entertainment, Pirate.com and Play Music Today.  

According to the index, while live music has long been a staple of Britain’s pubs and bars, it is now becoming a “lifeline” for venues struggling to stay relevant. Nearly 73% of the venues surveyed host live music at least once a week, helping boost sales by 33%, footfall by 36% and average spend per visit by 64%. 

As such, it said nearly nine out of 10 venues are planning to increase their live music offering over the next 12 months. 

Co-founder of Manchester venue One Eight Six, Dean Cammack, said: “Live music is a massive driver for the success of hospitality venues, it is core to delivering an atmospheric moment and we know it makes us stand out in an increasingly competitive market. 

“We have invested heavily in the sound system, staging, lighting and equipment to offer a high quality product for our customers; and then our weekly artist bill is around £15k because without live music we wouldn’t be able to operate.” 

Michael Forster, CEO at GigPig, said: “Gigging in the hospitality sector is the bedrock of the UK’s music industry. It’s what many of us who’ve dedicated our life to gigging have known, but it’s now clear that the hospitality sector is the cultural and economic lifeblood of the UK’s music scene. 

“That’s why it’s our mission to help every venue become a stage, give every artist the opportunity to get paid to play and bring live music to every town and city in the UK.” 

Despite profitability, more than half of venues said it is negatively impacted by the amount of time they have to spend sourcing and booking artists. Simplified booking process, transparent pricing, and access to a bigger artist talent pool would help “seed” venues offer more live music, the survey concluded. 

Forster added: “While there is much to be celebrated from the Live Music Index, we also need to recognise that more still needs to be done to nurture and grow the UK’s ‘seed’ music scene. 

“That’s why we’re leveraging technology to empower venues and artists to connect at scale, helping to create thousands of new gigging opportunities in towns and cities across the UK every month.”