U.K. labels reported just under $1.3B in sales revenue across streaming, CD, vinyl & download sales, public performance rights & sync in 2019
LONDON — The music industry, like all aspects of society, may currently be taking a battering from coronavirus, but some small crumbs of comfort can be found in new figures released by British labels trade body BPI that illustrate the giant strides made by the record business over the past decade.
Driving the growth was -- unsurprisingly -- streaming sales, which climbed by 22% to £629 million . 90% of that streaming total came from subscription revenues, while ad-supported tiers accounted for around 4%. Video streaming ads from the likes of YouTube contributed £35 million , equivalent to a 5.6% share.
Physical formats brought in a further £216 million in 2019, representing 20% of trade income. Breaking physical sales down, CD purchases totaled £142 million and vinyl £66 million . Download sales fell by almost 30% to £58 million . The numbers quoted by the BPI in its annual trade income report are based upon information provided its U.K. record label members, combined with Official Charts Company market share data. According to BPI, more than £120 million was lost to the music industry due to piracy in 2019."
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