UK music sales soared in 2024, driven by streaming and vinyl, with Taylor Swift leading the charge
Streaming is really taking off too, with revenues jumping almost eight percent to around two billion pounds. Vinyl sales are also on the rise, up 10.5 percent. It’s like music is making a serious comeback!
Kim Bayley, the head of the Digital Entertainment and Retail Association, said it’s been a fantastic year for music. She noted that sales have more than doubled since 2013, which is pretty impressive.
But it’s not all sunshine and rainbows. Many artists are still frustrated about low streaming royalties, and Spotify even faced a lawsuit in the U.S. last year.
Interestingly, CD sales have pretty much plateaued, sitting just over 126 million pounds. Linda Walker, chair of the ERA, mentioned that the industry is shifting. Subscription sales are now playing a bigger role than new releases, which is a big change from the past.
So, it looks like the music scene in the UK is thriving, thanks to a mix of streaming, vinyl, and some major artists like Taylor Swift leading the way!