Global claims specialist McLarens has reported a rise in musical equipment theft across the UK and Ireland over the past three months, leading to significant losses for music industry facilities, hire companies, and their insurers.
The incidents, which have primarily affected studios and equipment rental firms, suggest that criminals are now targeting a different sector within the entertainment market.
McLarens' entertainment and contingency team has handled an increasing number of claims involving burglary and walk-in thefts at music facilities. Formed in 2024, the team has also investigated cases where thieves place last-minute equipment hire requests, often on Fridays, prompting rental companies to expedite ID verification processes.
Fraudsters typically target high-end microphones, which are compact, easy to transport, and have strong resale value. These items can be worth up to £10,000. In some cases, criminals establish credibility by initially renting smaller items before making larger fraudulent requests.
McLarens noted that this pattern of fraud is similar to tactics previously used against camera and film equipment hire firms. The losses in that sector frequently exceeded £500,000, prompting insurers to face substantial claims. Since then, businesses in the film and TV industry have implemented stricter ID verification and rental procedures.
While theft statistics regarding musical instruments in the UK and Ireland are limited, theft offences in general rose sharply in recent years. In the year ending June 2024, there were approximately 1.72 million theft offences recorded by police forces in England and Wales, up from just under 1.5 million from the year prior.
Meanwhile, the Police Service of Northern Ireland reported 21,975 theft offences in the 2023/24 period. The Republic of Ireland’s Central Statistics Office also noted 76,501 recorded incidents of theft and related offences in the year leading up to Q2 2024, marking the highest level over a five-year span.
The shift in theft targets also follows a rising trend for the entertainment and media industry within the region. A PwC report highlighted that the sector has been experiencing significant growth, with projections indicating it became the largest in Europe by 2024.
In response to the recent increase in musical equipment theft, McLarens has advised rental companies to adopt similar measures by strengthening approval processes and enhancing ID verification requirements.
Ian McDonald (pictured above), head of entertainment and contingency at McLarens, said equipment theft has been a longstanding issue for the entertainment industry and noted that hire companies in the film sector had previously experienced significant losses, leading to more stringent approval procedures and increased information sharing.
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