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UK acts claim 17.1% share of global music market, says BPI

Original article from: http://www.m-magazine.co.uk/news/uk-acts-claim-17-1-share-global-music-market-says-bpi/

UK music enjoyed a ‘stellar year’ with artists claiming a 17.1 percent share of the global music market in 2015, new BPI report has revealed.

Published in the BPI’s Music Market 2016 yearbook, the new statistics showed that Adele’s 25 leads the way as the world’s best-selling album with 17.4m copies sold in 2015 (2.5m in UK).

This is the eighth time in the last 11 years that the global best-seller has come from the UK.

British artists dominate at home, with seven of 2015’s top-10 artist albums, while globally they account for half of top-10 best sellers, including Ed Sheeran, Sam Smith, One Direction and Coldplay.

Impetus for continued growth comes from audio streaming, which increases 82 percent to 27bn plays, delivering a 69 percent rise in income to £146.1m.

Geoff Taylor, BPI and BRIT Awards chief executive, said: ‘It is hugely encouraging that demand for British music is so strong at home and abroad thanks to our brilliant artists and the continual innovation and investment of our record labels.

‘Yet the fact that sales revenues dipped in a record year for British music shows clearly that something is fundamentally broken in the music market, so that artists and the labels that invest in them no longer benefit fairly from growing demand.’

He went on criticise the ‘dominant tech platforms’ for using liability protections as ‘royalty havens’ and not paying full value for the use of music.

Geoff continued: ‘The long-term consequences of this will be serious, reducing investment in new music, making it difficult for most artists to earn a living, and undermining the growth of more innovative services like Spotify and Apple Music that pay more fairly for the music they use.’

Visit the BPI’s website to find out more.

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