UK Recorded Music Market Grows 9.7% in 2024, with Physical Sales Showing Historic Stability
The UK recorded music market grew by 9.7% in 2024, reaching 201 million albums, according to new data from BPI. The industry saw significant growth across streaming and physical formats, with streaming achieving a record 199.6 billion audio streams.
Turntable playing vinyl record
Key Highlights:
- Streaming accounts for 88.8% of music consumption (up from 87.7% in 2023)
- First-ever weekly streaming milestone of 4 billion audio streams reached in May
- Physical music sales showed positive growth for the first time in 20 years
- Vinyl album sales increased for the 17th consecutive year
- CD sales remained stable compared to 2023
Women dominated the UK music charts in 2024:
- Female artists topped the Official Singles Chart for 34 weeks
- Women claimed 50% of the year's Top 20 albums for the first time
Notable British Success: Over 20 British acts topped the Official Album Chart, including The Last Dinner Party, Dua Lipa, Charli XCX, Coldplay, and The Cure.
Top Albums of 2024:
- Taylor Swift - The Tortured Poets Department
- The Weeknd - The Highlights
- Sabrina Carpenter - Short N' Sweet
- Noah Kahan - Stick Season
- Billie Eilish - Hit Me Hard And Soft
Most-Streamed Tracks 2024:
- Noah Kahan - "Stick Season"
- Sabrina Carpenter - "Espresso"
- Benson Boone - "Beautiful Things"
- Teddy Swims - "Lose Control"
- Hozier - "Too Sweet"
Global Competition: The UK music industry faces increasing competition from:
- Traditional markets like the US
- Emerging markets including South Korea and Latin America
- Government-backed music industries in these regions
Drake performing onstage with mic
Neon Boiler Room sign
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