MI2N
Music Industry News Network
TUESDAY, JULY 22ND
Advanced Search
MusicDish Advertising Network
Subscribe to Mi2N's Free Newsletters B2N (business) i2N (indie)
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 02-22-2014

Streaming Fuels Growth For UK Recorded Music Industry

Bookmark and Share

The UK recorded music industry's revenues grew in 2013, reports its trade body the BPI in its annual review of record company income.

Driven by an 11.9% rise in digital revenues from strong digital album sales and a surge in streaming, the UK recorded music industry saw an overall 1.9% increase in its revenues * (see Notes for Editors) last year to stand at £730.4 million - up from £716.8 million generated in 2012.

Digital reaches 50 per cent of revenues / Streaming income up by 41 per cent
The UK music business hit a significant milestone in 2013, with digital revenues now accounting for 50 per cent of total UK record industry trade revenues.

Income from music streaming services such as Spotify and Deezer constituted the fastest-growing sector over the twelve month period. Streaming revenues increased by 41 per cent - and its three main constituent elements: subscriptions to premium services, ad-supported 'free-to-consumer' streaming, and Cloud-related services combined to generate around £77m for record companies in 2013.

Subscription was the most important component, worth £54.7m and accounting for 71 per cent of the sector's income. Ad-supported services, which enable 'free-to-consumer' streaming, grew by 31 per cent on 2012, contributing £19m to industry revenues, while Cloud-related services, such as Google, Apple and Amazon's locker services are now beginning to produce meaningful revenues, contributing over £3m to industry income last year.

Download albums show strong growth
Boosted by the success of new British artists including Bastille, whose debut Bad Blood was the biggest-selling digital album by an artist in 2013, revenue from download albums showed strong growth in 2013 - up 19.5 per cent on the previous twelve months to £160.5m. Revenues were in part boosted by the increasing proportion of sales accounted for by digital compilations and 'premium' or 'deluxe' album editions such as Beyoncé's self-titled release, which came out exclusively on digital format towards the end of the fourth quarter.

Whilst it did not match the record levels seen in 2012 (down 4.4 per cent on the period), record company income from downloaded tracks remained strong at £121.7m - the second-highest total of all time.

Physical remains resilient, with Vinyl up again
Although revenue from sales of CD albums and singles and music videos declined by 6.4 per cent to stand at £365.4m, this rate of decrease was better than expected by most commentators, and it should not be overlooked that physical formats still account for half of UK recorded industry revenues. Within this trend there was again a strong showing from vinyl LPs, which saw revenue growth of 49 per cent to reach £12.1m. This figure represented 2.4 per cent of total album income in 2013 - the highest level of annual income for the format since 1994.

Geoff Taylor, Chief Executive BPI, said "The UK's record labels have reimagined their businesses for a world of instant mobile, global access to music, driven by social media. Rapid growth from digital albums and music streaming services such as Spotify powered a rebound in revenues in 2013. This will further boost investment in talented British artists like Arctic Monkeys, Bastille, Rudimental and Ellie Goulding, who will reach a global audience tonight as the BRIT Awards is streamed live around the world.

"With digital increasingly becoming its key source of revenue, Britain's music industry is fit and ready to seize the global opportunities it offers."

Tony Wadsworth CBE, BPI Chairman, added "After over a decade of digital transformation we are now seeing the transition of the recorded music business reach a significant milestone and a return to revenue growth. This was only ever going to happen if we give the consumer what they want, and the continual support given by artists and labels to new ways of enjoying music means that music fans can enjoy more choice and better value than at any time in history."

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

MusicDish*China Top 5 Indie Song Chart 07/12-07/18/2014

MusicDish*China Booking Second China Tour For French Jazz Singer Clotilde Rullaud

Longreef, Friend Movement And Abijack Management Join Forces For Launch Of Powerful "Battle Plan" Single And Video

MISSING LINK MUSIC ON ED SHEERAN'S #1 ALBUM

Chaz DePaolo Live: One Night In IONA

Maybe Mars Presents: The XP Sound Vol.1

CONVICTS TAKE ON CONGRESS

Da Phatfunk Clique Releases More Funk Jazz On The Violin!



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» MusicDish*China Launches Song Promotion Service For China
» Stanton SCS.4DJ USB Mixstation With Version 5.0 Software On Display At Summer NAMM 2014
» Big Fuss Records To Continue Helpful Music Artist Program In 2015
» Envivio Powers Transmission Of NRJ HITS France In Ultra HD TV Over Digital Terrestrial Television
» Pandora Internet Radio Hits Two Million Listeners In ANZ In Under Two Years
» Island Records Promotes Eric Wong To Executive Vice President/General Manager, Island Records
» NASTRAQ -- The New Platform For Monetizing Entertainment
» Rotosound Announces String Change Clinics With Bassist Jim Houghton
» New White Mic Music Single "Cheers" Brings The Party To You!
» Ed Roman Receives Two AMG Heritage Awards Nominations


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» Temple Bar 3 Year Anniversary
» Zebra Music Festival (Shanghai) Announces Headlining Acts (Chinese Version)
» Raising Our Voices For Fennie: Benefit Concert Zajia Lab, July 13
» Raising Our Voices For Fennie: Benefit Concert Zajia Lab, July 13 (Chinese Version)
» KANO Premiere At New York Asia Film Fest (Chinese Version)
» Over 90% Of Adults Support The Provision Of Music In Schools
» Why Branding Is More Important Than Ever
» Executive Wach: Tracktion Software Corporation, Liberace Foundation, McNally Smith College Of Music, SPIN, WSOU, Guitar Center
» "Overheard 3" And "Golden Chickensss" Took The Stage At New York Asian Film Festival (Chinese Version)
» Exclusive Interview With Up-&-Coming Beijing Indie Heat Mark
» Aloft Hotels Launches Global Search For Emerging Music Talent
» MusicDish*China Enlists Chinese Music Sites Wa3 And Ximalaya For 'China Life' Tour

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2014 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.