Matt Taylor, executive director of the Music Producers Guild (MPG), told The Times that without a change of direction on the chancellor\u2019s part, \u201cthousands of British artists won\u2019t be recording their music in the UK but in places such as LA, Paris or New York \u2026 Our soft power will be diminished and we\u2019ll miss out on getting the next Adele\u201d.<\/p>\n
Recording studios are classified as office space for business rates purposes and studio owners have said the lack of relief measures and these rocketing rates mean they are failing to make even or being forced closer to closure.<\/p>\n
Jasmin Lee, the owner of Dean Street Studios in Soho, said that its business rates had tripled over the past few years and costs had risen by about 300 per cent. In April, she expects another increase, this time of about 28 per cent.<\/p>\n
Tony Visconti, a producer for David Bowie, was a former owner of Dean Street Studios, which has counted Adele and Ed Sheeran among its clients.<\/p>\n
Lee said \u201cthe biggest issue is that there\u2019s no business rates classification for recording studios\u201d and that the company pays almost as much in business rates as in rent. \u201cWe\u2019re a client-facing business, and to carry this ridiculous burden of business rates when we received no relief throughout the whole of Covid is astounding,\u201d she said.<\/p>\n
\u2022 Small plates, bigger bills: how restaurants are slimming to survive<\/a><\/p>\n Lee fears that if recording studios such as Dean Street are no longer financially viable, then many young artists will miss the opportunity to seek advice from music icons. \u201cIt is so beneficial for these young artists to come into big recording studios that do have the big names in,\u201d she said. \u201cIt\u2019s about the relationships that are formed in these creative hubs, as if Adele is walking down the corridor and hears someone in another room then she\u2019ll say hello and this gives them a leg up.\u201d<\/p>\n Ed Sheeran is a former client of Dean Street Studios, which faces eyewatering rises to business rates<\/p>\n GETTY P WHITBY\/GETTY IMAGES<\/p>\n Dean Street\u2019s studios are booked out to about 20 artists each month. Lee said it was operating at capacity so there was no ability to compensate for the higher business rates by getting more artists through the door. \u201cIf we drop below 80 per cent capacity then we are not meeting our monthly costs \u2014 and that\u2019s scary,\u201d she said.<\/p>\n Taylor said that recording studios had reached a \u201cbreaking point\u201d as they aren\u2019t scalable like office-based businesses. \u201cThey are literally selling time inside a building, so there is a natural cap to how much they can earn,\u201d he added. Many people are under the misconception that recording studios only exist in London but Taylor said that about three quarters are outside the capital.<\/p>\n![\"Ed](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/02\/\/53db14d6-bb58-41ba-a18a-63bbce229fad.jpg\")
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