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SALES OF U.K. MUSIC EXPORTS UP 11%

British music exports are at a 10-year high, with revenues earned overseas by U.K. music labels hitting £364.6m ($477.7m) in 2016, up 11% over 2015, thanks in part to releases from Adele, Coldplay, David Bowie and The Rolling Stones. The rise of £36.4m is the strongest performance trade body BPI has recorded since 2000.

Since 2010, exports are up 72.3%. U.K. artists accounted for one in every eight albums purchased around the world last year, with Blighty the world’s largest exporter of recorded music after the U.S.

The 11% rise outperforms the increase in income U.K. record labels earned from streaming, physical, download, performance rights and sync in 2016, which was up 5.1% to £926m—the largest annual turnover in five years.

British music exports are strongest in North America and across Europe with the top five international territories for U.K. labels in 2016 being U.S., Germany, France, Australia and Canada.

Announcing the good news, Geoff Taylor, Chief Executive BPI & BRIT Awards issued a plea for Government support. "With Britain leaving the EU, the U.K. needs businesses that are true global superstars. Music by brilliant British artists such as Ed Sheeran, Adele, David Bowie, Coldplay and Sam Smith is streamed and purchased the world over, boosting the U.K.’s balance of payments,” he said.

“The global digital streaming market represents a huge new opportunity. Government can help to seize that opportunity by making sure our artists can tour freely post-Brexit and that third countries robustly protect music rights.”

 

 

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