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UK recorded music market up 7.5%, hits 114 billion streams in 2019

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UK recorded music market up 7.5%, hits 114 billion streams in 2019

Postby MrFredPFL » Wed Jan 01, 2020 7:02 pm

Story :

The UK recorded music market has just had its fifth consecutive year of growth.

According to the BPI and Official Charts Company data, consumption across all formats was up 7.5% year-on-year for volume in 2019. Based on the year’s AES total, the equivalent of 153.5 million albums were either streamed or purchased in the last 12 months. The annual rate of increase is up on the 5.7% recorded in 2018.

Of course, that follows a period of decline for the sector, which means that the 2019 result is still less than the total in 2006. Label revenue growth figures will be released later in the year, while ERA is set to confirm the retail value later this week.

But a half-decade of sustained growth marks the turnaround in the industry’s fortunes, as a result of streaming. Thanks to superstars such as Ed Sheeran, there was even an increase in the rate of streaming growth in Q3, the first time that had happened in two years.

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