LABEL INCOME RISES 7.3% IN '19

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LABEL INCOME RISES 7.3% IN '19

3/17/20

Record label income in the U.K. grew by 7.3% in 2019 to hit nearly £1.1b, marking the fourth consecutive year of growth, according to figures from the BPI. Cash earned from streaming rose by 21.8% to represent nearly 60% of the market at £628.9m.

British record labels earned £1.07b from the sale of music last year—the highest trade income since 2006 when the combined total was £1.166b.

Subscription streaming revenues grew 21.7% in 2019 to £568.8m (90% of the streaming pie) while ad-supported rose 29.7% to £24.7m (4%). Video streaming was up 18.8% to £35.3m (6%).