The EU referendum has dominated the headlines for what seems like forever but the decision has been made clear and the people of the UK have voted to leave the EU. The initial confusion and disorder has shown the pound has already dropped to a 30-year low and the Prime Minister David Cameron has resigned, with a new leader set to be appointed by October.
But the question we are raising is what effects will this have on the music industry?
British acts can currently freely tour and sell their records in a market of 500 million people. The EU pours more than £1 billion pounds of funding into the creative industries and there are endless EU programs that benefit them with UK applications having a 46 percent success rate. The UK’s music industry is one of the largest and most influential in Europe, outperforming the rest of the British economy by five percent last year, with British artists accounting for over 17 percent of album sales in theJune 24, 2016