Goodbye 21st Century, Hello 1995! Music Sales Continue to Soar

The British Phonographic Industry, or BPI to its friends, has published its yearly data for UK music sales and the top and tail of it certainly make promising reading.

A 10.6% rise in recorded music revenues over the last year to £839.4 million is inevitably heavily weighted towards streaming, a whopping 41% of all money coming into the industry via this route. Somewhat remarkably, CDs still constitute a sizable wedge of the pie, just under 30% of revenue coming from sales, with vinyl sales rising, yet again. At 24% of sales, vinyl is now a fifth of the size of the CD market, with the discrepancy likely to narrow yet further over the coming 12 months. Whether this pace can continue without more dedicated bricks and mortar stores to supply and encourage demand remains to be seen.

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