Music sales in the UK hit record high in 2024

Posted On January 8, 2025January 8, 2025

Music sales in the UK hit a record high in 2024 after fans spent £2.4billion on streaming subscriptions and physical formats, showing a drastic pivot from the digital-influenced decline of previous years.

According to the Entertainment Retailers Association (ERA), music revenues rose 7.4 per cent to £2.38billion last year, owing to an increase in subscriptions to streaming services like Spotify, Apple, and Amazon and the increasing sales of vinyl records.

According to Kim Bayley, the chief executive of the ERA, the surge is “thanks to streaming and the vinyl revival,” with the industry finally “back” following “decades” of trying to recover from the digital era. “For decades it was new release activity which drove most revenues. Digital services and retailers have become the drivers of the market,” Bayley added.

Last year, spending on subscriptions grew £2billion for the first time, while spending on CDs, vinyl records, cassettes, and other physical formats rose 6.2 per cent.

Total album sales across the entire year hit 201.4 million, coalescing with the increase in successful artists who dominated the charts throughout 2024, with albums by Taylor Swift, Sabrina Carpenter, Olivia Rodrigo, Charli XCX, Billie Eilish, The Last Dinner Party, Chappell Roan, and others soaring to the top.

This follows another recent report by the British Phonographic Industry (BPI), which found that sales and streams rose 9.7 per cent to 200.5million albums in the past year, marking a full decade of uninterrupted growth.

However, despite the increase, both Bayley and BPI Chief Executive Dr Jo Twist claim the industry still needs to adopt and adhere to certain structures and practices to remain healthy. “Digital and physical channels are complementary and vital for the health of the entertainment market overall,” claims Bayley, stating that the digital boom doesn’t mean other formats will become redundant.

According to Twist, the value of British music will be protected, and the industry will continue to grow so long as it meets “the growing global challenge head-on, tackling challenges around AI, copyright and streaming fraud, and encouraging consumers towards viable models, like paid streaming subscriptions.”

She added: “The UK remains a world music power, but this status cannot be taken for granted: we need a supportive policy environment that puts the focus on human artistry and enables continued investment in the next generation of British talent.”

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