{"id":66573,"date":"2024-01-09T12:05:53","date_gmt":"2024-01-09T17:05:53","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/01\/09\/record-streaming-revenue-and-vinyls-appeal-help-drive-uk-music-sales-back-to-2001-levels\/"},"modified":"2024-01-09T12:05:53","modified_gmt":"2024-01-09T17:05:53","slug":"record-streaming-revenue-and-vinyls-appeal-help-drive-uk-music-sales-back-to-2001-levels","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/01\/09\/record-streaming-revenue-and-vinyls-appeal-help-drive-uk-music-sales-back-to-2001-levels\/","title":{"rendered":"Record Streaming Revenue and Vinyl\u2019s Appeal Help Drive UK Music Sales Back to 2001\u00a0Levels"},"content":{"rendered":"

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\n\tLONDON \u2014 Paid-for streaming revenues grew to a record high of \u00a31.86 billion ($2.4 billion) in the United Kingdom last year, helping drive a 9.6% rise in overall music spending, according to year-end figures from the Digital Entertainment and Retail Association (ERA).<\/p>\n

\n\tIn 2023, British music fans spent a total of \u00a32.2 billion ($2.8 billion) on music purchases via subscriptions to music streaming services like Spotify and Apple Music, and vinyl and CD purchases. That\u2019s more-or-less equal to 2001\u2019s total, the historic peak of the CD era, when U.K. music sales stood at just over \u00a32.2 billion, reports ERA. When compared to 2019, the last full year pre-pandemic, music sales have climbed by almost 39% in the space of four years.<\/p>\n

\n\tDriving the growth was a 9.8% year-on-year rise in subscription streaming revenues, while spending on physical formats was up 10.9% to \u00a3311 million ($395 million) the London-based organization says in its preliminary annual figures published on Tuesday (Jan. 9).<\/p>\n

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\t\t\t\t\tLadies Might: Miley Cyrus, SZA and Taylor Swift Help Lift UK Music Streams to Record\u2026\t\t<\/p>\n<\/h3><\/div>\n

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\n\tBreaking down physical music revenues, vinyl album sales grew 18% to \u00a3177 million with Taylor Swift<\/a>\u2019s 1989 (Taylor\u2019s Version)<\/em>, The Rolling Stones<\/a>\u2019 Hackney Diamonds<\/em> and Lana Del Rey<\/a>\u2019s Did You Know There\u2019s A Tunnel Under Ocean Blvd<\/em> among the year\u2019s best-selling titles.<\/p>\n

\n\tDespite CD sales falling 7% year-on-year in volume terms to 10.8 million units, revenue from the long-written-off format actually rose 2% in 2023 to \u00a3126 million ($160 million), marking the first increase in CD revenue in two decades.<\/p>\n

\n\tERA says the growth can be attributed to the format\u2019s continued popularity among dedicated music fans, keen to buy their favorite artists in multiple and deluxe formats, as well as a rise in the number of Gen Z and Millennials buying CDs.<\/p>\n

\n\tThis Life<\/em> by British pop group Take That<\/a> was 2023\u2019s top CD album in the U.K. with just over 127,000 units sold. Swift\u2019s 1989 (Taylor\u2019s Version)<\/em> was the year\u2019s second most popular CD release.<\/p>\n

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\t\t\t\t\tIFPI Finds Music Listeners Are Adding Minutes Each Week, But Piracy\u00a0Persists\t\t<\/p>\n<\/h3><\/div>\n

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\n\tStreaming now makes up more than 88% of all music sales in the U.K., compared to 64% five years ago, with physical formats accounting for 9.4% of today\u2019s market, according to labels trade body BPI, which released its year-end listening figures last week.<\/p>\n

\n\tBPI reports that more than 179 billion music tracks were streamed in the U.K. in 2023, up 12.8% on the previous year\u2019s total, with the equivalent of 182.8 million albums streamed or purchased in 2023 across digital and physical formats, up 10% on the previous 12 months.<\/p>\n

\n\tIn a statement, ERA CEO Kim Bayley<\/strong> said the year-end figures represented a \u201cred letter day\u201d for the U.K. music industry with the rise in revenues \u201ca testament not just to the creativity of artists, but to the entrepreneurial drive of digital services and retailers.\u201d<\/p>\n

\n\tAlthough both ERA and BPI use Official Charts Company sales data as the basis for their reporting, the two organizations take different approaches to measuring the health of the recorded music business. ERA\u2019s figures are based on retail spending in the U.K., whereas BPI\u2019s measure music consumption levels. (ERA\u2019s subscription streaming numbers are estimates based on information provided by digital services and label trade income reported to BPI). BPI and ERA are both due to publish their full annual reports later in the year.<\/p>\n

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\t\t\t\t\tUK Music Returns Nearly $5 Billion to British Economy \u2014 But Competition Is Heating\u00a0Up\t\t<\/p>\n<\/h3><\/div>\n

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\n\tOverall, revenues across the U.K. entertainment market \u2013 comprising of music, video and games retail sales \u2013 were up 7% on 2022\u2019s total to a record high of \u00a311.9 billion ($15.1 billion), marking the eleventh successive year of growth. Streaming and digital services accounted for almost 92% of entertainment revenue, reports ERA.<\/p>\n

\n\tOf the three sectors, recorded music sales are in third place, trailing both games and video (comprising of video-on-demand subscription services such as Netflix and DVD sales), which totaled \u00a34.7 billion ($6 billion) and \u00a34.9 billion ($6.2 billion) respectively.<\/p>\n

\n\tThe U.K. is the world\u2019s third biggest recorded music market behind the U.S. and Japan with sales of just under $1.7 billion in trade value, according to IFPI\u2019s 2023 Global Music Report.<\/p>\n<\/div>\n<\/div>\n

Aller \u00e0 la source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON \u2014 Paid-for streaming revenues grew to a record high of \u00a31.86 billion ($2.4 billion) in the United Kingdom last year, helping drive a 9.6% rise in overall music spending, according to year-end figures from the Digital Entertainment and Retail Association (ERA). In 2023, British music fans spent a total of \u00a32.2 billion ($2.8 billion) […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-66573","post","type-post","status-publish","format-standard","hentry","category-musique","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/66573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/comments?post=66573"}],"version-history":[{"count":0,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/66573\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/media?parent=66573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/categories?post=66573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/tags?post=66573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}