Quantcast

U.K. MUSIC RETAIL TOPS £1.5B

Retail spending on music in the U.K. grew by 6.8% last year to £1.55b, its biggest total since 2006, according to preliminary figures from the Entertainment Retailers’ Association. Streaming grew 15.5% to £1.21b, accounting for 78% of the total market.

Vinyl rose 13.3% to £110m, contributing 7% to the overall total or 40% of the physical music market; CD sales dipped 28% to £156.2m or a 10% share. Download revenues dipped 19.5% to £72.2m, a 4.6% share of the total.

The overall growth is slower than the 7.1% achieved in 2019, when revenues from streaming rose 23.5%. In 2018, the U.K. music retail market grew 8.9% and streaming was up 37.7%.

2020's revenue increase is also lower than the rise in consumption. BPI reports that last year's recorded-music consumption rose 8.2%, with streaming up 22% to amass an 80.6% share.

The overall entertainment market—music, video and games—rose 16.8% in 2020 to a record £9.05b. It’s the fastest growth rate since such records have been kept, driven above all by digital services, which saw revenues increase by £1.4b over 2019 to a new high of £7.8b.

“If there was ever a year in which we needed entertainment, it was 2020,” ERA CEO Kim Bayley said. “The trend towards an increasingly digital entertainment market may be long established, but no one could have foreseen this dramatic leap as digital services filled the gap left by shuttered cinemas, concert halls and retail stores. 

“With much of the country shut down, ERA’s members provided a welcome revenue stream for thousands of musicians, actors, directors and countless backroom staff.”

BHM PREVIEW: THE RHYTHM OF CULTURE, THE BLUES OF HISTORY
Let's start with a little lesson. (1/27a)
GLASS ANIMALS' NEVER-ENDING WAVE
British band's long and winding road to #1 (1/27a)
HITS EXEC TODD HENSLEY PROMOTED TO COO IN LIEU
OF RAISE
Want fries with that cow patty? (1/26a)
JNR CHOI'S ROCKET "TO THE MOON"
Buzzing newcomer is part of our latest New & Developing Artists class. (1/27a)
ROY RIFKIND,
1927-2022
Remembering an indie-label pioneer (1/26a)
OOH, LAS VEGAS
You're gonna make a poor boy outta me.
HOW I WISH THAT THERE WERE MORE
...than 24 hours in a day.
PALMS SWEAT, BLACKJACK
on a Saturday night
SIN CITY
Lamborginis and caviar Dry martinis, Shangri-La
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)