The UK music industry contributed £5.2bn to the British economy in 2018, The live music sector made a contribution of £1.1 bn â up 10% on 2017’s £991 million, Employment in the industry hit an all-time high of 190,935in 2018. And we urgently need to ensure that the impact of Brexit doesnât put in jeopardy the free movement of talent, just at the time when we should be looking outwards and backing the best of British talent right across the world.â. Total revenues grew 18% to $5.4 billion at retail in the first half of 2019. The 2019 Brit Awards – as it happened. ... UK music industry worth a record £4.5bn in 2017. At wholesale value, revenues rose 16% to $3.5 billion. The fact is this, there is no one way to do it today. You will receive a link to reset your password. They believe that revenue could rise from its current £829 million ($1.1 billion) to as much as £1.6 billion ($2.1 billion), depending on how aggressively the industry courts new users and markets premium services. The total export revenue of the music industry was £2.9bn, up from £2.7bn in the previous year. Here’s a Detailed Breakdown of Radio Monitoring Companies, An Insanely Detailed Discussion About the Music Modernization Act, Steven Van Zandt: ‘Streaming Is a Disaster for Artists. Pedro Sanches, who is a partner in OC&C — which produced the report for the association — said, “Our study indicates the UK music industry has a significant opportunity to increase the size of the market beyond even the most bullish expectations. The news comes amid mounting uncertainty about Brexit. When I entered the music industry many years ago, I quickly became aware of a representation problem. More on the 2019 numbers from RIAA Chairman & CEO Mitch … Forbes Advisor UK. At the same time live music revenue in the country rose 10% in 2018, recorded music revenue rose 5% to £568 million ($734 million). The UK music industry grew by 2% in 2017 to contribute a record £4.5 billion to the economy, according to a study by UK Music.. Revenue increases were driven by the number of paid subscriptions exceeding 60 million for the first time. So effectively this revenue also subsidizes the music industry, ... in 2019 the top 1% now commands a whopping 60% of revenue. I'd like to hear about marketing opportunities, I accept IQ Magazine's Terms and Conditions and Privacy Policy, The value of Britain's live music industry grew a remarkable 10% in 2018, reveals UK Music's first Music by Numbers report, which is published today. Subscription streaming platforms operated by Spotify, Amazon Music and Apple Music, made revenues of £468m in the UK last year, 54% of the ⦠The report further found that more people than ever are working in the British music industry: nearly 191,000 people. The emergence of music streaming disrupted the relatively straightforward business model of the music industry then. Over 90% of all live and recording revenues come from domestic acts, while publishing is considered the most foreigner-friendly part of the industry with 20-25% of revenues generated by international artists. If music fans … Music tourism is a large source of revenue in the country, according to the UK Music report. }, 7 × = 49 .hide-if-no-js { Lewis Capaldi was the UK's biggest-seller in 2019 Overall, music industry revenue was up by 8.2% in 2019, marking the fifth consecutive year of growth, said the IFPI, which represents the industry. Published by Statista Research Department, Feb 7, 2020 This statistic displays music sales revenue at retail in the United Kingdom from 2011 to 2019, by format. Employment in the UK music industry was a record 197,168 at the end of 2019. The Global Entertainment & Media Outlook 2019–2023, the just-released 2019 update to the consulting firm’s respected annual Outlook report, finds live music ticket sales will increase at a compound annual growth rate (CAGR) of 3.33% from 2018 to 2023, from $21.256bn (projected) in 2018 to $25.036bn in 2023. Streaming revenue grew by 34 percent year over year and accounted for nearly half of global recorded music revenue, with… Read More The point I want to drive home with you is that these numbers should not drive what you do as an independent artist. UK music industry âadds more than £5bn to economy' Employment is at an all-time high with more than 190,000 people working in the industry, UK Music's report says. The 2019 edition has just been released and it brings you the latest music industry trends. Recorded music market revenue worldwide 2005-2019. The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year. The RIAA released its semiannual compilation of recorded music revenues this week. Total revenues of the music industry are estimated at $7 billion, generated by 3 main sub-industries: live, recording and publishing. Streaming music accounted for 80% of industry revenues. Global music industry revenue 2012-2023. For the full year 2019, total revenues for the global recorded music market grew by 8.2% to US$20.2 billion. Get exciting news, exclusive insights through leadersâ interviews, and much more! These are direct and indirect revenues, which is why they don’t add up to the headline figure of £5.2bn, if you’re wondering. The U.S. recorded music business generated $11.1 billion in revenue in 2019, according to the RIAA's annual year-end report, a 13% year-over-year increase from the $9.8 billion it reached in 2018. Streaming revenue grew by 34% (29.2% in Europe) and accounted for 46.9% of global revenue, driven by a 32.9% increase in paid subscriptions. International Live Music Conference (ILMC), The UK live music industry first broke £1bn GVA in 2016, UK live music-supporting MP Michael Dugher sacked, Music + Rugby to bring live music to UK stadia. The latest RIAA music industry revenue numbers show continued growth and continued dominance of interactive streaming. A testament to this is the amount of revenue the industry makes from streaming. Global revenues for the music industry grew by 9.7% in 2018, with physical sales down 10% and paid streaming up 32.9%. A Disaster.’, Canada Issues Its First Nationwide ISP Order To Block a Pirate Website, Taylor Swift Isn’t Just Re-Recording Her Old Songs — She’s Already Licensed the First Re-Recorded Track, Universal Music Group Is Now Building Content Studios — Starting In London and LA, What Is Trap Music? The key facts in Music By Numbers 2019 include: The UK music industry contributed £5.2 billion to the UK economy in 2018. The point I want to drive home with you is that these numbers should not drive what you do as an independent artist. Total revenues of the music industry are estimated at $7 billion, generated by 3 main sub-industries: live, recording and publishing. These statistics show that music continues to be a firmly established part of our cultural fabric and a vital part of the economy. âEveryone has focused on hard industries, but actually the music industry should be seen as the future of the UK economy because it is employment strong, export strong and revenue strong and growing 9%.â Economic contribution of core music industry 2013 Musicians, singers, composers, songwriters and lyricists â £1,740m, 67,900 employees Total revenues grew 18% to $5.4 billion at retail in the first half of 2019. The record industry in the US saw an 18 percent increase in revenue — hitting $5.4 billion — in the first six months of 2019. Over 90% of all live and recording revenues come from domestic acts, while publishing is considered the most foreigner-friendly part of the industry with 20-25% of revenues generated by international artists. The global recorded music industry generated $20.2bn in wholesale revenues – that’s the money making its way back to labels and artists – in 2019. Dance share of recorded music fell significantly in the USA & UK in 2018, but rebounded in Germany & Canada 3% Dance / Electronic Share of Recorded Music by Country (2017-2018) Total volume* Single sales Total Turnover Total volume* ... IMS Business Report 2019 Music Industry . 2019 revenue Anti-piracy and industry contributions 2019 In 2019, PPL made anti-piracy and industry contributions to the following: AIM (£62,000), BPI (£1,283,792), IFPI (£731,557), IMPALA (£69,500) and UK Music (£576,000). Streaming music accounted for 80% of industry revenues. He has also had fiction published by Akashic Books and Lettre International.