UK musicians' EU work loss post-Brexit

What happened: Since 2021, a quarter of UK musicians have lost all their EU work, with nearly half seeing a reduction, according to a European Movement UK report. This follows the UK's departure from the EU in 2020, which has also impacted businesses like Eskimo, a Bristol-based firm that planned to export energy-efficient electric radiators to Europe but faced new trade barriers.

Market impact: The music industry faces talent and revenue loss due to reduced EU work, affecting UK-based musicians and supporting businesses. For Eskimo, Brexit has hindered European expansion plans, potentially impacting sales and growth. In Brexit-supporting areas like Ebbw Vale, Wales, job opportunities may not meet expectations, despite infrastructure improvements and new businesses.

What to watch next: The UK's upcoming quarterly GDP growth rate (Q1 2023, Mar 24) will indicate the broader economic impact of Brexit. Additionally, the UK government's review of the Northern Ireland Protocol (Q2 2023) could influence trade relations with the EU and further impact businesses like Eskimo. Lastly, the UK music industry's annual revenue growth (2022-2023, Q3 2023) will provide insights into the sector's post-Brexit resilience.