Total revenues grew 18% to $5.4 billion at retail in the first half of 2019. IFPI GLOBAL MUSIC REPORT 2019 STATE OF THE INDUSTRY WELCOME 3. Music tourism is a large source of revenue in the country, according to the UK Music report. Forbes Advisor UK. The industry can’t rely on international visitors to keep the market afloat. The fact is this, there is no one way to do it today. The total export revenue of the music industry was £2.9bn, up from £2.7bn in the previous year. • The Live Music sector made contribution of £1.1 billion in 2018 - up 10% from £991 million in 2017. Energy Comparison (UK) Wheels. IQ’s news, features, information and analysis is read by 100,000 professionals worldwide each month. This number, which is driven by festivals such as Glastonbury, includes both direct and indirect revenue while the $6.72 billion total includes only direct revenue. ... with paid streaming accounting for 37% of total recorded music revenue. RIAA Releases 2019 Year-End Music Industry Revenue Report. The key facts in Music By Numbers 2019 include: The UK music industry contributed £5.2 billion to the UK economy in 2018. Do not listen to the prognosticators, including me, if they tell you X is dying or Y is the future. The total export revenue of the music industry was £2.7bn in 2018. Will Maria Eagle stand up for UK live music? ... Recording industry data exchange system RDx goes live. What a Top Music Industry Attorney Thinks About the Rise In Copyright Trolling — Our Latest Podcast, ‘Bone Conduction’ Headphones Don’t Go Over Your Ears — But Still Transmit Sound to Your Inner Cochlea, Rapper Casanova Arrested on Federal Racketeering, Drug, and Gun Possession Charges, Foals Keyboardist Says Bands Should Stop Touring to Save the Environment, Who Killed Selena? • Employment in the industry hit an all-time high of 190,935 in 2018. Revenue increases were driven by the number of paid subscriptions exceeding 60 million for the first time. At the same time live music revenue in the country rose 10% in 2018, recorded music revenue rose 5% to £568 million ($734 million). “The figures are hugely encouraging and show that, as well as enriching the lives of millions of people, music makes an incredible contribution to the UK’s economy. The findings of this year’s report include: GVA from recorded music also rose, by 5% to £535m – remaining at around half the contribution of the live sector – while total record label revenues grew for the third consecutive year (3% in 2018). In total, the American music industry’s 2019 retail revenue was about $11.1 billion, up from $9.8 billion in 2018 and $8.8 billion in 2017. Business News Labels & Publishers Top Stories Value of UK music industry tops £5.2 billion, says UK Music By Chris Cooke | Published on Wednesday 20 November 2019. display: none !important; The music industry contributed £5.2 billion to the UK economy in 2018, with the live music sector hitting a record-high of £1.1 billion. The IQ family also includes ILMC, the live music industry’s top international conference event, and the International Festival Forum (IFF). IQ publishes a regular magazine, several annual reports, and a daily news digest, IQ Index. The UK music industry grew by 2% in 2017 to contribute a record £4.5 billion to the economy, according to a study by UK Music.. Streaming made up nearly 80% of total revenues as the music industry has transformed to a digital-first business. The UK music industry contributed £5.2 billion to the UK economy in 2018. You will receive a link to reset your password. International Live Music Conference (ILMC), The UK live music industry first broke £1bn GVA in 2016, UK live music-supporting MP Michael Dugher sacked, Music + Rugby to bring live music to UK stadia. According to the IFPI’s Global Music Report 2019 released today, the global recorded music market grew for the fourth consecutive year, increasing by 9.7 percent in 2018 with a total reported revenue of US$19.1 billion. Under a more conservative approach, however, only a fraction of radio revenue will be included in the music industry in the form of royalty payments. If music fans … It Ain't All Daisies & Butterflies — Our Latest Podcast, Meet the Artist Who Is Literally Saving His Fans’ Lives — Our Latest Podcast, How to Game the Billboard Charts (And Why You Shouldn’t) — Our Latest Podcast, How to Protect Yourself From the Copyright Trolls — Our Latest Podcast, Stop Chasing Playlists and Start Building a Music Career — Our Latest Podcast, Are Hit Songs Under Attack? Streaming represented 80% of recorded music industry revenue in 2019, according to a new report from the Recording Industry Association of America Lewis Capaldi was the UK's biggest-seller in 2019 Overall, music industry revenue was up by 8.2% in 2019, marking the fifth consecutive year of growth, said the IFPI, which represents the industry. “Music exports are another amazing success story, with the best of British creative talent being showcased across the globe. Please enter your email address below. ... UK music industry worth a record £4.5bn in 2017. A testament to this is the amount of revenue the industry makes from streaming. Music business revenues are breaking records according to the latest figures from industry body the PRS/MCPS, while Spotify has smashed through the 100 million paying subscribers mark. — UK Music (@UK_Music) November 14, 2020 ‘Tough year’ The total export revenue of the music industry was £2.9bn in 2019 – up 9 per cent from £2.7bn in 2018. UK Music, which includes the UK Live Music Group, measures the health of Britain’s music business each year by collating data on its contribution in goods and services – known as gross value added (GVA) – to the UK’s gross domestic product (GDP), including export revenue. ... Amazon Music and Apple Music, made revenues of £468m in the UK last year, 54% of the £865.5m total income for the recorded music industry… The U.S. recorded music business generated $11.1 billion in revenue in 2019, according to the RIAA's annual year-end report, a 13% year-over-year increase from the $9.8 billion it reached in 2018. Continued strong growth to more than 60 million paid subscriptions drove the U.S. music industry to its fourth consecutive year of double digit growth. The music industry contributed £5.2 billion to the UK economy in 2018, with the live music sector hitting a record-high of £1.1 billion. Streaming revenue grew by 22.9% to US$11.4 billion and for the first time accounted for more than half (56.1%) of global recorded music revenue. According to the IFPI’s Global Music Report 2019 released today, the global recorded music market grew for the fourth consecutive year, increasing by 9.7 percent in 2018 with a total reported revenue of US$19.1 billion. The point I want to drive home with you is that these numbers should not drive what you do as an independent artist. display: none !important; Employment in the industry hit an all-time high of 190,935 in 2018. Employment in live, meanwhile, increased 7% to 30,529. “Our report reveals firm evidence that the British music industry is in great shape and continuing to lead the world,” comments UK Music CEO Michael Dugher. Get exciting news, exclusive insights through leaders’ interviews, and much more! We face many challenges to ensure we keep our music industry vibrant, diverse and punching above its weight.Â, “Live music is now at a record high and continues to draw millions of fans from both the UK and abroad”, “We need to do more to protect grassroots venues by helping them combat soaring business rates. The UK live music industry first broke £1bn GVA in 2016, though the 2018 figure is around £100m higher, indicating continued growth. For the full year 2019, total revenues for the global recorded music market grew by 8.2% to US$20.2 billion. The UK music industry contributed £5.2bn to the British economy in 2018, The live music sector made a contribution of £1.1 bn – up 10% on 2017’s £991 million, Employment in the industry hit an all-time high of 190,935in 2018. Streaming revenue grew by 34 percent year over year and accounted for nearly half of global recorded music revenue, with… Read More In 2019, physical music sales generated 4.4 billion U.S. Creative industries GVA in the United Kingdom (UK) 2012-2018, by group; Music industry gross value added (GVA) in the United Kingdom … Over 90% of all live and recording revenues come from domestic acts, while publishing is considered the most foreigner-friendly part of the industry with 20-25% of revenues generated by international artists. The key facts in Music By Numbers 2019 include:. 20 November, 2019 00:01 Source: IFPI Global Music Report 2019 3 All Genres Global recorded music revenues grew by 9.7% in 2018, driven by streaming, and all geographies except Europe 5% 21% By Format 10% (10)% YoY Growth in Global Recorded Music Revenues (2017-2018) 12% 14% 17% 0.1% By Region Global revenues for the music industry grew by 9.7% in 2018, with physical sales down 10% and paid streaming up 32.9%. They believe that revenue could rise from its current £829 million ($1.1 billion) to as much as £1.6 billion ($2.1 billion), depending on how aggressively the industry courts new users and markets premium services. The UK Music Industry Doesn’t Always Take Chances On Women, ... June 11, 2019. ... Streaming Made Up 80% of Music Industry Revenue in 2019… “The UK music concert and festivals market continues to grow in value, fuelled by more events, higher ticket prices and a rise in the number of music tourists from overseas. IQ is the leading global news platform for the live music business. Recorded music market revenue worldwide 2005-2019. The Live Music sector made contribution of £1.1 billion in 2018 – up 10 per cent from £991 million in 2017. UK music industry ‘adds more than £5bn to economy' Employment is at an all-time high with more than 190,000 people working in the industry, UK Music's report says. Millions of tourists flocked to the UK for concerts and festivals, boosting revenue by ten per cent – from £991 million in 2017 to £1.1 billion last year. However, this is not a time for complacency. There were an estimated 11.2m music tourists to the UK in 2018, and music tourists collectively spent £4.5bn, with an estimated 45,530 jobs sustained by music tourism (Music By Numbers, UK Music, 2019). The Live Music sector made contribution of £1.1 billion in 2018 – up 10 per cent from £991 million in 2017. 2019 revenue Anti-piracy and industry contributions 2019 In 2019, PPL made anti-piracy and industry contributions to the following: AIM (£62,000), BPI (£1,283,792), IFPI (£731,557), IMPALA (£69,500) and UK Music (£576,000). Total revenues of the music industry are estimated at $7 billion, generated by 3 main sub-industries: live, recording and publishing. The total export revenue of the music industry was £2.7 billion and employment in the industry hit 190,935. Pedro Sanches, who is a partner in OC&C — which produced the report for the association — said, “Our study indicates the UK music industry has a significant opportunity to increase the size of the market beyond even the most bullish expectations. The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year. Total 2019 revenues of $11.1 billion were up 13% versus $9.8 billion the prior year. Total revenues of the music industry are estimated at $7 billion, generated by 3 main sub-industries: live, recording and publishing. Streaming revenue alone in 2019 was greater than the entirety of money generated from recorded music in 2017. © 2020 International Live Music Conference Ltd. A Disaster.’, Canada Issues Its First Nationwide ISP Order To Block a Pirate Website, Taylor Swift Isn’t Just Re-Recording Her Old Songs — She’s Already Licensed the First Re-Recorded Track, Universal Music Group Is Now Building Content Studios — Starting In London and LA, What Is Trap Music? Frances Moore, chief executive of IFPI, said: “The Global Music Report we issued today covers results for 2019 and reflects the successful work and investment of music creators – from record companies to artists and beyond. The Music Creators sector The record industry in the US saw an 18 percent increase in revenue — hitting $5.4 billion — in the first six months of 2019. Streaming revenue grew by 34 percent year over year and accounted for nearly half of global recorded music revenue, with… Read More News. The RIAA released its semiannual compilation of recorded music revenues this week. The UK’s Entertainment Retailers’ Association released a report that indicated that the music streaming market in the United Kingdom could double by 2023. But growth in streaming is slowing down, leading to … Get more stories like this in your inbox by signing up for IQ Index, IQ’s free email digest of essential live music industry news. IFPI Global Music Report 2019: Revenues rise 10%, UK up to No.3. display: none !important; He has also had fiction published by Akashic Books and Lettre International. So, what is the “State of the Music Industry in 2019?” Murky. The live music sector contributed £1.1 billion (US$1.42bn/€1.28bn) to the British economy in 2018 – a 10% year-on-year increase – according to UK Music’s inaugural Music by Numbers report. And we urgently need to ensure that the impact of Brexit doesn’t put in jeopardy the free movement of talent, just at the time when we should be looking outwards and backing the best of British talent right across the world.”. Here’s a Detailed Breakdown of Radio Monitoring Companies, An Insanely Detailed Discussion About the Music Modernization Act, Steven Van Zandt: ‘Streaming Is a Disaster for Artists. We need to nurture the talent pipeline, including by reversing the decline of music in education, so that children from every background have access to music.Â, “We need to make sure that creators get fair rewards for their content and are not ripped off by big tech. Do not listen to the prognosticators, including me, if they tell you X is dying or Y is the future. Global live music industry revenue by source 2014-2024. The UK music industry contributed £5.2bn to the British economy in 2018 The live music sector made a contribution of £1.1 bn – up 10% on 2017’s £991 million Employment in the industry hit an all-time high of 190,935in 2018 The total export revenue of the music industry was £2.7bn in 2018. — Netflix Documentary Examines the Singer’s Tragic Death, Chance the Rapper Sued for $3 Million by Fired Former Manager, TikTok Gets Its Day In Court — Appeals Court Hearing Scheduled for December 14th, What Streaming Music Services Pay (Updated for 2020), Is Your Song Being Played on the Radio? Millions of tourists flocked to the UK for concerts and festivals, boosting revenue by ten per cent – from £991 million in 2017 to £1.1 billion last year. The MP for Barnsley East, a prominent advocate for the UK's small music venues, has fallen out of favour with Labour leader Jeremy Corbyn, Researchers will look at gigs in seven cities and share a toolkit that other institutions can use to conduct parallel studies country-wide, Public Health England is warning against the unimmunised attending festivals this summer following outbreaks at Glasto, Secret Garden Party and more, The new venture by Music + Sport, also behind Cricket Live and The Jockey Club Live, will launch with Jess Glynne at Kingsholm Stadium in June, As the Norwich Owl Sanctuary shuts, new shadow culture minister Maria Eagle has so far not confirmed whether she will continue her predecessor's advocacy for small venues, The Nordic Culture Fund is to provide funding for venues and festivals who wish to book homegrown acts, a move welcomed by Nordic promoters. Employment in the UK music industry was a record 197,168 at the end of 2019. I'd like to hear about marketing opportunities, I accept IQ Magazine's Terms and Conditions and Privacy Policy, The value of Britain's live music industry grew a remarkable 10% in 2018, reveals UK Music's first Music by Numbers report, which is published today. Subscription streaming platforms operated by Spotify, Amazon Music and Apple Music, made revenues of £468m in the UK last year, 54% of the … So, what is the “State of the Music Industry in 2019?” Murky. Music exports also rose 8% while label revenue grew more modestly at 3%. Revenue increases were driven by the number of paid subscriptions exceeding 60 million for the first time. ... UK record label revenue growth returns to Britpop levels. The latest RIAA music industry revenue numbers show continued growth and continued dominance of interactive streaming. In total, UK music fans spent £1.41bn ($1.80bn) on recorded music across all formats in 2019, up 7.1% on the previous year (2018)’s haul of £1.32bn. So effectively this revenue also subsidizes the music industry, ... in 2019 the top 1% now commands a whopping 60% of revenue. Total 2019 revenues of $11.1 billion were up 13% versus $9.8 billion the prior year. Charitable donations 2019 In 2019, PPL made charitable donations to BAPAM (British Association for Meanwhile, the total export revenue of the music industry was £2.7bn in 2018, while music tourism – in part driven by festivals – contributed £4.5bn to the UK economy, up by 12% year-on-year. Streaming music accounted for 80% of industry revenues. Published by Statista Research Department, Feb 7, 2020 This statistic displays music sales revenue at retail in the United Kingdom from 2011 to 2019, by format. According to research in the BPI’s new yearbook All About The Music 2019, UK recorded music revenues are up by over 20% in three years. It claimed that recorded music revenues grew by 11.4% to $21.5bn in 2019, with streaming up by 24% to $11.9bn. At the same time live music revenue in the country rose 10% in 2018, recorded music revenue rose 5% to £568 million ($734 million). Digital Music News ©2018 All Rights Reserved, Artist Image Is Everything — Here's How to Build Yours on a Budget, How to Make It In the Music Industry — Two Behind-the-Scenes Professionals Break It Down, Songtradr Acquires Sync Licensing Company Cuesongs, Music in Advertising: Here’s How Industry Pros Select Songs for Placement, Sync Licensing: It’s Much Bigger Than TV, Film, and Commercials, This Is the Real Difference Between Rap and Hip Hop, “My Whole Source of Income Just Disappeared” — How Two Musicians Are Dealing With Cancelled Concerts, Investing In Music Catalogs? At wholesale value, revenues rose 16% to $3.5 billion. The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). When I entered the music industry many years ago, I quickly became aware of a representation problem. Wed 20 Mar 2019 20.01 EDT. The Global Entertainment & Media Outlook 2019–2023, the just-released 2019 update to the consulting firm’s respected annual Outlook report, finds live music ticket sales will increase at a compound annual growth rate (CAGR) of 3.33% from 2018 to 2023, from $21.256bn (projected) in 2018 to $25.036bn in 2023. Music tourism alone contributed £4.5bn spend to the UK economy – up 12%, from £4bn, on 2017, Overseas visitors to UK shows and festivals surged 10%, from 810,000 in 2017 to 888,000 in 2018. These are direct and indirect revenues, which is why they don’t add up to the headline figure of £5.2bn, if you’re wondering. And in just a few years, streaming has now become an integral part of the industry. Discover all 2019 music industry trends in the brand-new Midem News Magazine. The reported global digital music revenue in 2018 to $2.3 billion. It contributed £4.5 billion ($5.81 billion) to the British economy in 2018, which is an increase of 12% from the year before. “The figures in this report are testament to the outstanding creativity of our world-leading artists”. The 2019 edition has just been released and it brings you the latest music industry trends. The annual report, Music by Numbers, shows UK music remains a hugely successful British export with £2.7bn in revenue from sales of music and tickets of UK acts overseas. “Everyone has focused on hard industries, but actually the music industry should be seen as the future of the UK economy because it is employment strong, export strong and revenue strong and growing 9%.” Economic contribution of core music industry 2013 Musicians, singers, composers, songwriters and lyricists – £1,740m, 67,900 employees Global music industry revenue 2012-2023. 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