BRITISH MUSIC RAKES IT IN GLOBALLY

In 2021 the value of British recorded-music exports grew by 13.7% to a new high of £591m (nearly $710m), according to figures released recently by the BPI. It’s the highest total since 2000, when the BPI began its annual tally of income earned overseas by British labels.

Upwards of 400 U.K. artists amassed more than 100m audio streams each, according to an analysis of streaming data by the trade body. More than 600 U.K. artists achieved at least 50m audio streams, while another 1,500 surpassed 10m. Among the record number achieving 100m+ global streams were Adele, Dua Lipa, and Glass Animals.

Physical and digital-download sales, streams and other consumption of British music increased in every region globally; Europe was up 17.6%, North America 11% and Asia 11.1%.

Countries where U.K. music has traditionally thrived saw double-digit gains—Germany rose 31.3%, France 20.1% and the U.S. 10.4% —while Mexico led a Latin America explosion with a 19.2% year-over-year increase.

More than 60 U.K. artists whose music was streamed at least 20m times received funding through the Music Export Growth Scheme, an export support program for independent SME (small and medium enterprise) music companies administered by the BPI and funded jointly by industry and government. Among the British artists whose recordings were streamed more than 250m times despite their never having a U.K. Top 10 album or Top 40 hit were Ella Mai, Bishop Briggs and Cavetown.

Said BPI/BRIT Awards/Mercury Prize Chief Executive Geoff Taylor: “Recent market estimates suggest the global recorded-music industry could double in size by 2030, meaning there’s ample opportunity for more artists to achieve international success and for music to deliver for U.K. PLCs [public limited companies]. But continued success isn’t guaranteed as competition increases from international markets, making it harder to cut through and putting pressure on our global market share. The Music Exports Growth Scheme provides vital funding to help independent labels and artists expand their businesses overseas, and with sustained support from the government, British music will continue to thrive around the world.”