LONDON: The huge success of artists like One Direction, Coldplay, Adele and Ellie Goulding means British artists accounted for one in every six albums sold worldwide last year, the BBC reports
The UK music industry accounted for 17.1 percent of the global music market — its highest ever share.
But despite the industry’s impressive market share, total revenues fell by 1 percent to £688 million.
The BPI, which represents the British music industry, laid the blame with advertising-funded sites like YouTube and Daily Motion, saying the industry made more money from vinyl sales last year than it did from music video streaming.
In its annual yearbook, a guide to the UK recorded music industry, the BPI said YouTube and other ad-funded websites paid out a “meagre” £24.4 million in 2015. This was despite fans streaming almost 27 billion music videos — an 88 percent increase from 2014.
That was narrowly eclipsed by the £25.1 million earned from the sale of 2.1 million vinyl LPs in 2015 (a figure that suggests the industry makes almost £12 from every vinyl album sold).
Audio streams on subscription services like Apple Music, Spotify and Deezer surpassed both. The BPI says it saw an 82 percent increase in streams, to 27 billion, accounting for a 69 percent rise in income to £146.1 million.
The UK music industry accounted for 17.1 percent of the global music market — its highest ever share.
But despite the industry’s impressive market share, total revenues fell by 1 percent to £688 million.
The BPI, which represents the British music industry, laid the blame with advertising-funded sites like YouTube and Daily Motion, saying the industry made more money from vinyl sales last year than it did from music video streaming.
In its annual yearbook, a guide to the UK recorded music industry, the BPI said YouTube and other ad-funded websites paid out a “meagre” £24.4 million in 2015. This was despite fans streaming almost 27 billion music videos — an 88 percent increase from 2014.
That was narrowly eclipsed by the £25.1 million earned from the sale of 2.1 million vinyl LPs in 2015 (a figure that suggests the industry makes almost £12 from every vinyl album sold).
Audio streams on subscription services like Apple Music, Spotify and Deezer surpassed both. The BPI says it saw an 82 percent increase in streams, to 27 billion, accounting for a 69 percent rise in income to £146.1 million.
