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BPI: U.K. MUSIC IS RAKING IT IN
7/19/22

The value of British recorded music exports in 2021 grew by 13.7% to a new annual high of £591m (close to $800m last year) , according to new figures released by the BPI. It’s the highest total since the BPI began its annual survey of record label overseas income in 2000.

Last year, nearly 400 U.K. artists amassed more than 100m audio streams each worldwide, according to analysis of streaming data by the trade body for independent and major record labels. More than 600 U.K. artists achieved at least 50m audio streams, while another 1,500 surpassed 10m audio streams. Among the record number of U.K. artists achieving 100m-plus 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 spiked 11% and Asia grew 11.1%.

Countries where U.K. music has traditionally thrived saw double digit gains—U.S. was up 10.4%, Germany rose 31.3%, France soared 20.1%—while Mexico led a Latin America explosion with a 19.2% year-on-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 scheme for independent SME music companies, administered by the BPI and jointly funded by industry and Government. Among the British artists whose recordings were streamed more than 250m times despite them never having a U.K. Top 10 album or Top 40 hit were Ella Mai, Bishop Briggs and Cavetown.

“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. PLC,” said BPI, BRIT Awards & Mercury Prize Chief Executive Geoff Taylor. “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 Government, British music will continue to thrive all around the world.”