The latest UK Music report revealed interesting data regarding the state of UK music industry, making it official that on a grand scale, concerts have overtaken studio records as musicians' primary source of income.
reports, the research also suggests that the Rolling Stones
are a more valuable asset than David Bowie
. Taking four "commercial assets"
of the music industry - "musical composition and/or lyrics, a recording of a musical composition, live musical performance and an artist him or herself (as a brand, reputation or image)"
- into consideration, the report further finds:
"Some artists may have more commercial potential in one or other of the assets. The Rolling Stones, for example, have recorded new music relatively infrequently in recent years. However, they retain tremendous capacity to attract live audiences. Equally, David Bowie has released a new album (commercial assets one and two) that has been well received but he has not (as of yet) performed these songs live (commercial asset three)."
Furthermore, the study stresses the importance of factor No. 4 - exploitation of image or a brand - as increasingly crucial in modern times, particularly for talent show creations such as One Direction.
[There are artists] whose professional careers begin with TV shows like the X Factor - who have a personal brand that is disproportionately large as compared with their success to-date in developing commercial assets one (songwriting) and two (record sales),"
the report reads.
In total, the UK music industry has "contributed £3.5 billion ($5.73 billion) in gross added value (profit and wages) in 2012, £1.4 billion ($2.3 billion) in exports and employed more than 100,000 full-time workers."