Income earned by British record labels from the sale of recorded music grew 10.6% last year to £839.4m, a return to 2010 levels according to trade body BPI. Last year’s rise was driven by streaming subscriptions and a continued vinyl revival, as well as a number of homegrown success stories.
The number is published within the BPI’s annual All About The Musicreport. It delves deeper into the £1.108b figure reported by the Entertainment Retailer’s Associationin January by defining how much of that went into record label coffers.
The 10.6% rise is the fastest rate of growth since the height of Britpop in ’95. Total income, however, remains nearly one third lower than the British industry's peak year in 2001 when income topped £1.2b.
Income earned by British record labels from the sale of recorded music grew 10.6% last year to £839.4m, a return to 2010 levels according to trade body BPI. Last year’s rise was driven by streaming subscriptions and a continued vinyl revival, as well as a number of homegrown success stories.
The number is published within the BPI’s annual All About The Musicreport. It delves deeper into the £1.108b figure reported by the Entertainment Retailer’s Associationin January by defining how much of that went into record label coffers.
The 10.6% rise is the fastest rate of growth since the height of Britpop in ’95. Total income, however, remains nearly one third lower than the British industry's peak year in 2001 when income topped £1.2b.
