In January, the BPI revealed that the amount of music streamed last year rose by 22% to 139bn audio streams, up from 114bn in 2019.įor UK record labels that translated to a 15.5% increase in streaming income to £736m last year, driven by a rise in the cut of revenue that labels receive from Spotify, Amazon Music and Apple Music. While the battle of the traditional music formats plays out, it is streaming that continues to be top of the pops for consumers and fill the coffers of record labels. Photograph: CBS Photo Archive/CBS/Getty Images Grammy winner Harry Styles performing in Los Angeles. In addition to the immediacy and convenience of streaming, fans want to get closer to the artists they love by owning a tangible creation.” “2021 is likely to be the year in which revenues from LPs overtake those from CDs for the first time in well over three decades – since 1987. “Vinyl’s exceptional performance despite retail lockdowns confirms its role as a long-term complement to music streaming,” said Geoff Taylor, the chief executive of the BPI. Buying shifted to online channels as lockdown restrictions shut record stores for months on end. Music fans are choosing to indulge in albums, prized for their cover art and sleeve notes, as a physical alternative to listening to streaming, the BPI said. As recently as 2010 the format was worth £563m to UK record labels, while income from vinyl was just £3.5m. The number of CDs sold has plunged by almost a third to 16m in 2020. While the format was convenient, it was never a favourite with collectors and sales have continued to fall in the face of the streaming revolution, with record labels reporting an 18.5% slump in income last year to £115m. The pandemic has not halted the inexorable decline of the compact disc.
UK music industry body the BPI says vinyl income is now on track to overtake CDs for the first time since 1987, when Rick Astley, T’Pau and Pet Shop Boys topped the charts.
0 kommentar(er)
