The Cost of Living Crisis' impact on the Music Industry 8

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The Cost of Living Crisis’ impact on the Music Industry

May 8, 2024

Words by: Tasha Barrett

What impact does the cost of living crisis have on today’s music industry?

Uncertainty for Today’s Musicians

The ongoing cost-of-living crisis has had significant consequences on the music industry. Souring prices has brought further struggles following the large impact that the pandemic has already made, causing financial difficulties and affecting artists mental health.

With live music venues closing for 18 months over the pandemic, it left the music industry in peril, leaving still so much uncertainty for musicians and all creatives alike.

Following this, the cost-of-living crisis has left the music industry in a severe struggle to bounce back to what it was before.

Keeping the Industry Alive

Scarily high levels of inflation has made it hard for touring bands and visiting live gigs. Musicians survived the pandemic and fell face first into the cost-of-living crisis, feeling it’s near impossible to bounce back creatively, having to rebuild passions and rebuild their careers, in a set of circumstances they have never come across before. However, regardless of all this uncertainty, it is evident that musicians and creatives alike will still shine through and keep the industry alive – so what can we do to help?

We need music, it lifts our souls, makes us feel alive, and inspires us in all this chaos. It also brings people together, and it is evident that in these trying times, we need each other now more than ever.

Music Minds Matter

We have been chatting to Help Musicians, a mental health charity for musicians, with Music Minds Matter, a dedicated mental health support line and service for the whole UK music community, available 24 hours a day. The charity is for you – if you work in music and are struggling to cope, or know someone who is. It doesn’t have to be a crisis, or about music. They are here to listen, support and help at any time. 

Music Minds Matter:

‘Working in music can be tough. Now more than ever, the impact of the pandemic combined with Brexit-related touring challenges and the cost-of-living crisis means musicians’ mental health is suffering.

Music Minds Matter is Help Musicians’ dedicated mental health service providing a range of support for the whole UK music community.

If you work in music and are struggling to cope, the Music Minds Matter phone line is available 24 hours a day, seven days a week; it doesn’t have to be a crisis, or about music. Music Minds Matter will connect you with an accredited counsellor who can offer emotional support, advice and information. Where appropriate, they may also signpost to other specialist services, offer debt and legal advice as well as access to further support from Help Musicians.’

Call Music Minds Matter: 0808 802 8008.

Alongside the phone line, Music Minds Matter offers access to guided support from accredited therapists through peer support groups and specialist services, including online self-care sessions to help develop coping strategies to navigate the challenging times.

Joining an online group session can feel intimidating, so you are welcome to engage as much or as little as you like. Feel free to join in the conversation via the chat box or just sit back and listen with your camera-off if that feels more comfortable.

Donate below

Of course, with it being an uphill battle, the charity is still appealing for donations to enable their work to continue and to help more musicians in this tough time. Any money raised helps with the cost of performing and touring, as well as helping artists to create and promote new music. If you are able, you can make a donation here.

And no matter what, if you have any worries, queries, or anxieties about visiting the studios, our friendly team here at Factory Studios are always here to put your mind at ease. Just drop us a line and we’ll get back to you.

We’re in this together.

 

 

 

The Cost of Living Crisis' impact on the Music Industry 4
The Cost of Living Crisis' impact on the Music Industry 3

'It doesn’t have to be a crisis, or about music. Music Minds Matter will connect you with an accredited counsellor who can offer emotional support, advice and information.'

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