Streaming and vinyl’s revival send UK music sales to £1.1 billion in 2015

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British consumers splashed out £1.1 billion on music products in 2015 thanks to a huge surge in streaming and a revival of vinyl records.

Overall, music consumption was up 4%, which translated to a 3.5% growth in retail value last year, according to industry body BPI.

A total of 121.6 million albums were either purchased on physical format, digitally downloaded or consumed via streaming by UK music fans – up on 117.2 million in 2014, it added.

Streaming alone grew by 82% to generate a total of 26.8 billion audio streams. Combined with video music streaming the total was 53.7 billion.

Digital formats now account for 54% of all music consumption, the BPI said.

Despite the shift, the BPI reported that CD sales held up better than expected, dropped just 3.9%.

The even older format of vinyl made a spectacular comeback, with unit sales hitting a 21-year high at 2.1 million.

Geoff Taylor, chief Executive of BPI and BRIT Awards, said: “Services such as Spotify and Apple Music are going mainstream as more people discover how wonderful it is to have all the music in the world to listen to, whenever and wherever you want.

“Millions of fans also continue to build treasured collections of favourite albums on vinyl, CD or downloads.”

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Top-seller: Adele sold 2.5 million copies of ’25’ in the Britain

The organisation also hailed the success of British artists, flagging that 15 of the top-selling albums in the UK were by home grown talent.

Adele took the top spot, with 2.5 million copies of ‘25’ sold in Britain, while the top ten also featured Ed Sheeran’s ‘X’ and James Bay’s ‘Chaos and the Calm’.

Source Article from http://www.standard.co.uk/business/streaming-and-vinyls-revival-send-uk-music-sales-to-11-billion-in-2015-a3150001.html

January 7, 2016 |
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