11.01.2023: UK Music meets Cabinet Minister Kemi Badenoch to kick off key year for music trade and exports.
UK Music’s Chief Executive Jamie Njoku-Goodwin met Department for International Trade Secretary Kemi Badenoch to discuss a number of issues where industry and government can work together to boost music industry trade and exports during 2023.
Music industry exports are currently worth £2.5 billion. This is lower than the pre-pandemic high of £2.9 billion, yet last year UK Music revealed the green shoots of recovery for music exports with year-on-year growth of 10%.
The pair met yesterday (January 10) in the Secretary of State’s ministerial office in Whitehall to consider existing and future trade agreements following the UK’s departure from the EU.
Recent deals have been concluded with Australia, New Zealand and Japan with future deals hoped for growing music markets in India, South Korea and Canada.
The government and industry agree that these new trade agreements present an opportunity to secure improvements in how copyright is enforced in other countries, to create a level playing field and ensure non-discrimination in the rights UK from which musicians and music companies benefit.
Kemi and Jamie also discussed the need for continued government support for the Music Export Growth Scheme (MEGS) and International Showcase Fund (ISF). These industry-government initiatives provide a vital lifeline for emerging and independent artists and return £13 and £15.20 respectively for every £1 invested. Alongside this, the meeting considered the importance of government backing for the British Music Embassy at SXSW in Texas and overseas trade missions.
The Secretary of State listened to UK Music’s case and agreed to continue engagement on how best to seize the global opportunities for the UK’s world leading music industry.Back to news