Revealed: The multi-million pound value of The Beatles’ legacy

New research has claimed that Liverpool’s association with The Beatles adds £81.9m to the city’s economy each year while creating 2,335 jobs.

A collaborative report from Liverpool John Moores University (LJMU) and Liverpool University, the study was commissioned by the city council to assess both the current and future impact of the Fab Four.

In addition to the £81.9m generated annually by the band’s legacy, the research found that The Beatles-related economy is experiencing growth of up to 15% every year.

A number of recommendations for maintaining the authenticity of the various Beatles experiences are made in the report, including the creation of an official Beatles Legacy group to represent the sector’s main stakeholders and explore how the heritage can be further developed.

The report’s lead author, Prof. Simeon Yates of the Institute of Cultural Capital, said: “This report clearly indicates the importance of The Beatles as a cultural and economic resource to the city of Liverpool.

“In all the interviews we conducted there was a strong belief that the city would go on attracting visitors through its Beatles connection long into the future.”

He added: “However, underpinning the economic impact and the cultural value of The Beatles heritage is a positive experience for fans, visitors and citizens, and the city needs to maintain standards in its efforts to promote this legacy.”

The Beatles also offer a valuable route into other aspects of Liverpool’s culture and history, according to the report, including its maritime past and contemporary music and arts scenes.

Prof. Richard Evans of the European Institute of Urban Affairs at LJMU commented: “This report clearly shows that the Beatles legacy is of major economic benefit to the city and that there is significant potential for further growth.

“The Beatles’ close ties with Liverpool not only make dedicated attractions appealing but also boost the custom of other local visitor attractions, hotels, shops and educational establishments, and the image and standing of the city around the world.”

Joe Anderson, the Mayor of Liverpool, said he believes the report is the first step on the road to protecting The Beatles’ legacy and ensuring it continues to attract visitors to the city “for generations to come”.

Speaking further, he said: “Everyone knows The Beatles have had a big impact on the city’s past, but now we know exactly what that is and what we can do, together with other stakeholders, to ensure their impact on the city’s future.

“This now gives us a firm footing to make investment and creative decisions on how to improve the current offer of The Beatles.”

He concluded: “It will rely on all stakeholders taking ownership and driving change to unleash the full potential for our city.”