Campaigning and lobbyist group UK Music, which promotes and supports the interests and rights of record labels, musicians, producers and music industry professionals, has called for Brexit protection to be given to Britain's music exports.
The request stems from findings within UK Music's yearly 'Measuring Music' study outlining that the music industry supplies the UK market with £4.1 billion a year, equivalent to $5.4 billion.
Domestic and international revenues from British musicians, composers, lyricists and songwriters took the top spot in earnings, generating £2 billion, while live events brought in £904 million and 750,000 fans from overseas.
'Measuring Music', carried out by BOP's Chief Economist Johnathon Todd and reviewed by Oxford Economics, also cites that global exports of recorded music rose by 8.9 per cent in 2015, with one in six of all artist albums sold, and five of the world's top 10 selling albums, coming from British artists such as Adele (pictured) and Sam Smith.
UK Music's Chief Executive Jo Dipple explains that these numbers make it clear that Britain must establish Brexit protection for its music industry. She noted that without implementation of defence, UK-produced IP content would no longer be able to "flourish in global markets".
Culture Secretary Karen Bradley MP also noted that exporting music is not only a huge contribution to the economy, but a vital component in spreading the country's culture to the rest of the world, saying "people around the world get their first taste of British culture via our music".
Read UK Music's full 'Measuring Music' report here.
Sydney is Mixmag's US Digital Content Editor. Follow her on Twitter here