The music industry is facing a cost of living crisis

Due to various factors such as Covid, Brexit and the cost of living crisis, the music industry is struggling more than ever and it is affecting every part of the sector from the artists trying to tour, to the venues struggling to survive. In recent weeks we've seen this exemplified in a range of news stories.

Touring musicians have been cancelling their international shows, including recent Mercury Prize winner Little Simz who had a hugely successful release with her album Sometimes I Might Be Introvert. In April she announced she could not go on her tour of the US, releasing a statement that outlined the financial toll that touring is taking on independent artists.

Before Brexit and Covid it was much easier for independent musicians to fly across the world and share their music with new audiences. Recently, it was announced that Animal Collective wouldn't be able to make it over to the UK, with one of indie music's biggest bands not being able to make it over emphasising the costs that touring musicians are facing right now.

It isn't just financial stability that is affecting touring musicians either, post-covid touring has been relentless with countless musicians getting back on the road as often as possible and it often hasn't been sustainable. Yard Act, Arlo Parks, Sam Fender and Wet Leg have all cancelled tour dates this year and attributed it to mental health or burnout.

Often musicians will try and power through in order to not miss out on any revenue but it is pushing them to the breaking point. In a time where the artists we love are struggling enough, some venues take as much as 25% of merchandise profits, further constricting the financial validity of touring.

Being the area where artists make most of their money out on the road, The Big Moon recently decided to sell merch in a local pub rather than a venue in order to make a profit whilst keeping prices lower for fans. It feels as though chances to dance are becoming fewer and further between.

Earlier this year the NTIA (Night Time Industries Association) reported that one in five nightclubs had shut down in the UK since the pandemic. Now they are facing the cost of living crisis in a whole world of uncertainty, with the energy price rises coming into effect. There has been little information on how exactly venues are going to stay afloat amid astronomically rising bills. 

It took long a while for financial aid to arrive during the pandemic. In the capital clubs such as Bethnal Green's Space 289 have been shut down due to excessive rents and even the future of Printworks is disputed as the infamous club has been approved to be turned into offices but talks are underway to try and save the clubbing space.

So, how do we try and save these sacred spaces that are key to our culture and play a huge role in our livelihoods? Well, the Music Venue Trust is running a scheme called Own Our Venues which is looking to buy up the freeholds of venues across the UK and rent them back at a much cheaper rate.

The most effective way of keeping places going is to buy tickets to your favourite nights and the same goes for the artists you love too. If your local venue is at risk of closure, get out there and resist and make it heard about how valuable it is to your community. We cannot let dance floors be wiped out, we need to press the government for more support for our cultural institutions and our musicians. 

Check out our What's On Guide to discover even more rowdy raves and sweaty gigs taking place over the coming weeks and months. For festivals, lifestyle events and more, head on over to our Things To Do page or be inspired by the event selections on our Inspire Me page.