Music export growth
According to data from UK Music, the industry association, in 2015 the UK's £2.2bn of music export revenues can be broken down as:
Musicians, Composers, Songwriters & Lyricists: £946m
Music Publishing: £520m
Recorded Music: £360m
Music Representatives: £268m
Music Producers, Recording Studios & Staff: £24m
Between 2014 and 2015, the fastest growth was in exports of Live Music which grew by 35.7 per cent. In 2015, the annual growth rates in the other segments were:
Recorded Music: 8.4 per cent
Music Representatives: 3 per cent
Musicians, Composers, Songwriters and Lyricists: 2.1 per cent
Revenues were approximately flat in Music Publishing and Music Producers, Recording Studios & Staff.
UK dominates European music sales
British artists were responsible for nearly one in four albums sold in Europe during 2015, according to BPI data.
In the six biggest export markets for the UK in Europe, British artists claimed almost one in six album sales during the year.
Almost all (95 per cent) of BPI members produce recorded music and services commercially available in EU markets.
Ninety per cent of respondents to a BPI survey reported that it was important for the UK to have an influence in framing rules that govern the sale or use of British music in Europe.
Some 70 per cent said the EU was either very important or quite important to their future prospects.
Adele led the strong performance by British artists in 2015. But there was also an impressive showing by a broad range of other UK acts, with Coldplay, Ed Sheeran, Mark Ronson, Muse, Sam Smith,One Direction, Mumford & Sons, George Ezra, The Prodigy, Calvin Harris, Steven Wilson, to name a few, as well as heritage acts such as Iron Maiden and Pink Floyd, each experiencing chart success across Europe to underline the strength in depth that the UK currently enjoys.
Worldwide music success
Exports from the UK recorded music sector grew at 17 per cent in 2014, underlining the UK's position as the second largest provider of music repertoire in the world. UK music exports generated £2.1bn of revenue during the year - or more than half the Gross Value Added of the music industry, according to Measuring Music 2015, the annual economic survey from UK Music.
UK music acts enjoyed their highest share of global album sales in recent years during 2014, accouting for one in seven of all albums sold worldwide.
Performers from the UK achieved 13.7 per cent worldwide share by value of album sales, up from 13 per cent in 2013, and 11.8 per cent in 2010, according to a report from the BPI, the music industry body.
Five of the top 10 global albums were from UK acts including One Direction, Ed Sheeran, Coldplay, Pink Floyd and Sam Smith. The Anglo-Australian band, AC/DC, also made the top 10.
UK acts perfomed strongly in the key US market, accounting for 12.2 per cent of US album sales or almost $600m of revenue. The UK also did well in Australia (22.4 per cent share), Italy, (19.6 per cent), Canada (15.3 per cent), Germany (14.2 per cent), and Sweden (14 per cent).
According to data from the IFPI international organisation, the top 10 global recording artists in 2014 were:
1. Taylor Swift (USA) - 1989
2. One Direction (UK) - Four
3. Ed Sheeran (UK) - X
4. Coldplay (UK) - Ghost Stories
5. AC/DC (Australia/UK) - Rock or Bust
6. Michael Jackson (USA) - Xscape
7. Pink Floyd (UK) - The Endless River
8. Sam Smith (UK) - In The Lonely Hour
9. Katy Perry (USA) - Prism
10. Beyoncé (USA) - Beyoncé
These positions are based on IFPI rankings which count worldwide album sales - including both physical and digital formats, track sales and streams.
For more information, visit the BPI website here.
Published: June 4, 2015.
EXPORT PERFORMANCE --(Official data)
- The UK music industry generated £2.2bn of exports in 2013. This is almost 60 per cent of the music industry's Gross Value Added (GVA), which is twice the UK economy's average. (1)
- Export sales were distributed across musicians and composers (£814m), music publishing (£562m), recorded music (£283m), music representatives (£266m), live music (£211m) and music producers, studios and staff (£21m). The biggest growth areas for exports were in music publishing (+11 per cent in 2013 v 2012) and live music (+ 4 per cent), with recorded music down 13 per cent. (1)
- UK artists accounted for 8 per cent of global music revenues in 2012. (2)
- The UK remains one of the few net exporters of music, with royalties from abroad outweighing the payments sent outside of the country. (3)
- The core UK music industry generated estimated exports of £1.398bn in 2012. This was made up of an estimated £509m from music publishing, £321m from recorded music and £235m from music representatives - namely collecting societies, music managers and music trade bodies. (3)
- The export contribution of UK record labels has held up well between 2007 and 2012 (the latest year for which data is available). (3)
- British artists secured five of the world’s top 10 best-selling albums in 2012. (2)
- British acts have had the world’s top-selling album for five of the last six years. In 2012, Adele’s 21 was the global top seller for a second consecutive year. (2)
- UK artists’ share of album sales in North America stood at a 10-year high in 2012 – 13.6 per cent in the US and 17.3 per cent in Canada. Adele’s 21 was the best-selling album of the year for the second year in a row in both the US and Canada, reportedly the first album to achieve this feat since Michael Jackson’s Thriller in 1983 and 1984. (2)
- UK artists accounted for one in seven albums sold and four of the top five selling albums in the US in 2012. They included One Direction, who became the first British group ever to have two albums debut at number one in the Billboard 200. (2)
- UK artists’ share of single track sales in the US increased for the third successive year in 2012 and moved to a five-year high of 10.8 per cent. (2)
- UK artists secured over 18 per cent of album sales in France in 2012. (2)
- In each of the last seven years, UK acts have accounted for over 15 per cent of album sales in Germany (16.1 per cent in 2012). (2)
- UK artists’ share of world album sales increased to 13.3 per cent in 2012, up from 12.6 per cent in 2011 and the highest share ever. (2)
1. Measuring Music, UK Music, September 2014.
2. BPI Yearbook 2013
3. The Economic Contribution of the Core UK Music Industry, UK Music, 2013.