Under pressure: While stars like Dua Lipa (pictured) continue to draw large audiences, many recording studios are struggling
The music industry is putting pressure on the Chancellor to reform business rates.
While stars like Dua Lipa continue to draw crowds, many recording studios are struggling.
The Music Producers Guild (MPG) is calling on Rachel Reeves to ‘fundamentally reform the business rates system’.
A survey by MPG shows that half of studios are considering closing next year.
MPG chief executive Matt Taylor said: ‘Unless the Government implements deep reforms to business rates, we will see more iconic recording studios close.’
A studio executive said, “We’re struggling to survive.”
DIY INVESTMENT PLATFORMS
A.J. Bell
A.J. Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund trading and investment ideas
interactive investor
interactive investor
Invest for a fixed amount from € 4.99 per month
Sax
Sax
Get £200 back in trading fees
Trade 212
Trade 212
Free trading and no account fees
Affiliate links: If you purchase a product, This is Money may earn a commission. These deals have been chosen by our editors because we believe they are worth highlighting. This does not affect our editorial independence.