Music Venue Trust Report underscores decline in venues
The Music Venue Trust (MVT), which represents hundreds of venues has released its 2024 Annual Report, which paints a bleak picture of independent live music in the UK.
The survey release comes just as the National Independent Venue Association (NIVA) launches a U.S. survey amidst concerns that this market is also experiencing similar pressures.
This tenth UK survey of the 810 members of the Music Venues Alliance (MVA), found they employed over 30,000 people, staged 162,000 live music events comprising almost 1.5 million individual artist performances to a total audience of just under 20 million.
The total direct value to the UK economy from these events was £526 / $697M USD.
43.8% of Venues Reported an Annual Loss
On average, these grassroots music venues operated on a profit margin of just 0.48% with 43.8% reporting a loss over the last 12 months. This means that the sector as a whole effectively subsidised live music activity to the tune of £162M / $202M.
‘Huge Decline’ in Place To Play
One of the most concerning trends is a huge decline in locations on the UK’s primary and secondary touring circuits.
In the 30 year period between 1994 and 2024 those touring locations have collapsed, with an average tour in 1994 including 22 dates and the equivalent tour in 2024 consisting of only 11 dates.
Touring in 1994 was spread across a range of 28 different locations across the country. In
2024, just 12 locations, all of them major cities, remained as primary and secondary touring
circuit stops, acting as regular hosts to grassroots tours.
The result is a decrease in the total number of live music shows (down 8.3% since 2023) accompanied by an even steeper decline in ticket revenues (down 13.5% since 2023).
A bright spot is that the MVT has secured freehold ownership of five grassroots venues.
“The 2024 Annual Report recognizes that after 10 years of work by MVT a very broad consensus has been built among policitians, industry, artists and the public that grassroots music venues must be protected, supported, encouraged and nurtured,” said Mark Davyd CEO of Music Venue Trust. “In 2025, we have to see that consensus bring forward positive, practical interventions in the real world… We need action not words.”
Access the full MVT Annual Report here
US State of Live Survey
The National Independent Venue Association (NIVA) recently launched State of Live, the first ever independent survey and economic study of the U.S. independent live sector.
“The struggles that grassroots venues in the U.K. are experiencing, especially unworkable profit margins and increased closures, are what so many venues and communities are facing here in the U.S,” says Stephen Parker, NIVA Executive Director. “Music Venue Trust has built an incredible data operation that we are hoping to replicate and improve upon here in the U.S. with our State of Live economic research happening right now. The U.S. needs to tell our story just like the U.K. has for years. It will be critical for us to secure a seat at the table and state-by-state support that is necessary for more stages to continue to be the source of joy and economic development for their communities.”
The groundbreaking State Of Live initiative is designed to capture the economic contributions and operational challenges of independent venues, promoters, performing arts centers, and festivals across the United States.
All of these entities regardless of size, tax-status, or location are urged to take part in the State of Live survey now through February 18, 2025.
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, a Berklee College Of Music professor and the founfer of the Skyline Artists Agency
