Music streaming made record £1 Billion last year

Sales from music streaming last year hit over £1 billion for the first time ever in the UK. 

According to the Entertainment Retailers Association (ERA), UK streaming service users streamed over 114 billion songs last year. Over recent years there have been many music streaming services that have entered the industry, including Spotify, Amazon Music, Deezer, Tidal and Apple Music. 

ERA also found that music streaming had helped the UK’s music industry to grow at an increase of 7% to £1.4 billion for 2019. 

Streaming saw the biggest increase in revenue in 2019

Music listeners are moving to the digital world to get their music fix. They prefer to stream music as it is easier to pay for a subscription and listen to whatever they want to and whenever they want. It is also cheaper because many subscriptions can be as little as £9.99 a month allowing streamers to listen to unlimited music collections without being interrupted by adverts.

But it is not all good news for the music industry. Physical sales of CDs saw a decline, falling 17% last year meaning that physical sales were at £318million in the last 12 months. Bucking the physical sales trend was sales of Vinyl. Sales for vinyl saw an increase in 6.7% making £97million in 2019. This means that vinyl is here to stay for a little while yet.  

Even though there has been a decline in physical sales, there is still a market for them in the industry. Many music buyers, including myself, still like to buy CDs and vinyls just because they like to have a copy of the music and the booklets that come with them. 

ERA CEO Kim Bayley said, “As more and more people sign up to streaming services, it obviously becomes a challenge to maintain the same rate of growth, but the fact is UK music fans spent £190m more on subscription streaming services in 2019 than they did the year before – that’s more than twice the value of the entire vinyl market.” 

According to the Official Charts Company, the biggest selling album of 2019 was Lewis Capaldi’s debut album Divinely Uninspired To A Hellish Extent. The album sold 640,892 copies, with 60.2% of sales being streaming and digital downloads and 39.8% were from physical sales. 

As times pass this will be the future of music. Many new releases will see bigger sales through streaming instead of buying a copy of it. The music industry will have to change and adapt to this new way of fans accessing their favourite music. 

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