British music labels’ trade income grew by 7.3% in 2019
Posted on: 17 mars 2020, by : Stuart Dredge

UK music industry body the BPI has published its annual figures for British labels’ trade income – the money that labels actually earn, rather than the ‘retail value’ of consumer spending on music that was reported by fellow body ERA earlier this year.
The unsurprising headline: more growth for labels. Their trade income grew by 7.3% in 2019 to £1.07bn (around $1.32bn), the fourth consecutive year of growth.
As in other countries, streaming was the main driver: British labels’ streaming income grew by 21.8% to £628.9m last year, and now accounts for 58.9% of their revenues – up from 51.9% in 2018.
Within that, labels’ income from streaming subscriptions grew by 21.7% to £568.8m in 2019. In its announcement of the figures, the BPI cited data from global body the IFPI and consultancy firm Media Research to suggest that by mid-2019 there were 19.6 million music subscribers in the UK.
The post British music labels’ trade income grew by 7.3% in 2019 appeared first on Music Ally.
Source: Music ally

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