Quick Take: UK Recorded Music Industry Grew By 5.1% in 2016

The recorded music industry’s run of good news stories continues with the BPI’s announcement that UK revenues grew by 5.1% in 2016. As in other markets, streaming is the fuel in the engine. Revenues hit £925.8 million in 2016, up from £881.3 million with streaming accounting for 30% of the total. Streaming grew by 61% (slightly above the global average of 57%) with subscriptions accounting for 87% of the streaming total. Downloads continued their death spiral, falling by 27% however the £56 million in lost download revenue was more than offset by the £97 million that streaming grew by. Physical revenues fell by just 2% (most of the CD buyers that were going to switch have now done so).

Source: musicindustryblog.wordpress.com

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