U.K. recorded music revenue rose by 3.8% in 2020 to reach £1.118b, according to The BPI. It’s the highest total since 2006 and fifth consecutive year of growth, albeit at a slower rate due to the impact of the coronavirus pandemic.
Revenues from streaming fueled much of the rise, growing 15.4% to £736.5m. Subscription income grew 14.7% to £650.3m, ad-supported is up 17.5% to £42.4m, while video streaming also rose 24.4% to £43.8m.
Physical revenues decreased by 2.6% to £210.3m, which is an improvement on 2019’s 10.4% dip, helped by the response of independent shops, specialist chains and customers who switched to purchasing online during the lockdowns. Climbing revenues from vinyl, boosted by online campaigns, increased by nearly a third (30.5%) to £86.5m, which is the highest total since 1989. This helped cushion reduced CD sales income, which fell 18.5% to £115m.
