Spending on UK live music hits £6.1bn, Method Man says he’s never been paid for streams
Update: 2024-09-06
Description
Steve and Stuart discuss the recent report from LIVE, which says Spending on UK live music has hit a record £6.1bn, and find out why Method Man says he’s never been paid for streams.
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Great listen guys. A minor correction though. Steve is right to say VAT makes up more of the price of a ticket here than elsewhere. He isn't right in saying that VAT makes up 20% of the total price though. VAT of 20% is added to the net amount, so in the example of a ticket that costs £150 altogether, £25 of it would be VAT. To work back from the total you divide by 1.2 rather than multiply by 0.8.