The value of music in London

London is one of the world's foremost music cities. Using a statistical approach developed in earlier studies of music in the United Kingdom (NMC, 1996; NMC, 1999), this chapter presents the results of a survey commissioned by London Arts from researchers at the University of Westminster. The chapter draws together available data oh the commercial and public sectors of the industry, on live performances and their audiences, on education and training and on exports. This data has been supplemented by new research, notably in the area of live performance and in identifying geographical ‘clusters’ of music business firms in certain areas of inner London.

Among the key findings of the research are that consumer spending represents some 90 per cent of the £1.1 billion total spending on music in London; consumers spent more on concert tickets and entrance charges for music of all types than on CDs and other soundcarriers; music provides the equivalent of 34,000 full‐time jobs in London and creates added value of over £1 billion and the London music business has net foreign earnings of over £400 million per annum.

The chapter concludes with some reflections on the implications of this research for music policy at both the national and city level. The statistical evidence demonstrates that classical music, a genre with only 10 per cent of the audience, continues to attract over 90 per cent of public subsidy. A similar imbalance in training of education of musicians means that the development of many young and talented non‐classical musicians is left to the vagaries of the market.