Streaming Helped Music Grow Faster in 2017
The consumption of all formats of British music has grown at its fastest rate this 2017.
19:08 13 January 2018
BPI, an associated of record labels, has released official figures revealing that 2017 has been the stronger year so far for British recorded music. The numbers show that UK consumption across all formats last year grew at its fastest rate this millennium.
Over the last 12 months, there were a total of 135.1million albums or their equivalent that were purchased on physical format, streamed, and/or downloaded. This number represents a 9.5per cent increase when compared to 2016 and marks a third year of consecutive volume growth.
Geoff Taylor, Chief Executive BPI & BRIT Awards, said: “Demand for music in the UK is growing fast, driven by brilliant British artists such as Ed Sheeran, Sam Smith, Rag‘n’Bone Man, Little Mix, Stormzy and Dua Lipa and the innovative music industry that supports them,”
Streaming now accounts for 50.4per cent of all domestic music consumption. Official figures reveal that there were 68.1billion audio streams served through Spotify, Deezer, Apple Music, and other audio streaming services. The number is 51.1per cent higher when compared to 2016 figures.
“Vanessa Higgins, CEO Regent St & Gold Bar Records, and an independent label member of BPI Council who heads up the BPI’s Innovation Hub, said: “Music is now made and enjoyed in so many ways, and this process is constantly evolving to create ever-greater choice,”
Disclaimer: Supanet is not responsible for, and disclaims any and all liability for the content of comments written by contributors to this website