The industry impact could include higher ticket prices as venues pass on costs and a risk of reduced touring activity or shorter UK tours if costs overwhelm revenues, according to Music Venue Trust chief executive Mark Davyd.

Transitional relief is available for large properties, capping some increases in the first year, but rises persist after relief ends, threatening higher operating costs and ticket prices.

Rateable value revaluations are determined by the Valuation Office Agency every three years; increases are capped at 30% for the next year and 25% plus inflation for the following two years, yet the cumulative effect remains substantial.

The chancellor’s budget confirms new business rates will be based on 2024 valuations with a reduced multiplier, and transitional relief will cushion the first year but not prevent large increases over three years.

Transition relief limits first-year increases to about 30%, but long-term bills are expected to rise significantly, potentially impacting venue viability and ticket pricing.

The article cites past ticket-price surges (such as Oasis) to illustrate how market factors and pricing strategies can amplify costs for fans, while regulatory scrutiny by authorities like the CMA remains ongoing.

Budget details reiterate a 2024-based valuation framework and reduced multiplier for commercial properties, affecting venues that were largely shut or restricted during the pandemic.

Industry calls for greater pricing transparency and potential measures to shield consumers and venues from excessive increases.

The report includes related social media posts from Co-op Live and OVO Arena Wembley and links to several recommended reads.

Major UK concert venues, including London’s O2, Co-op Live in Manchester, Manchester Arena, and Ovo Arena Wembley, face sharp increases in property tax bills driven by higher VOA valuations, with rises projected over the next three years.

Smaller venues are at risk too, with potential closures unless relief measures are expanded; industry leaders are urging government action on relief and support.

Industry experts warn that taxes could effectively double within three years, complicating the sustainability of venues.