Despite record highs for British music exports, industry insiders are worried about the consequences of the Brexit on the UK music industry. The biggest issue at stake is uncertainty over the exact consequences to expect.
Recently, the British Phonographic Industry (BPI) has noted the need for a ‘strong’ deal with the EU will be needed to cushion possible negative impacts of the Brexit on the healthy British music industry. BPI CEO Geoff Taylor comments:
“Over the next few years, our Government is going to be seeking to negotiate trade deals with countries around the world and this represents a potential opportunity to raise the profile of the UK in emerging markets and increase our share in developed markets, both of which will have the potential for growth, particularly in streaming services,” said Taylor. “At the moment, though, we are in a period of uncertainty.”
The Brexit could potentially cause a variety of problems for the UK music industry, including customs hold-ups, additional costs and delays in importing physical products, visa concerns for artists and staff, or other unforeseen impacts. Their hope is for a Brexit deal that supports music rights and allows relative freedom in touring and music product transit.