As streaming grew to record levels last year it saw so much growth that music streaming now makes up 80% of the singles market in the UK.
The Official Charts Company have revealed a new streaming figure required to count as a track sale because music streaming is just too popular. The OCC revealed that streaming in the UK has grown so much that is was making up 80% of the singles market. Figures from music streaming services were integrated into the UK music charts by the Official Charts Company in 2014 as it’s popularity started to spread around the world.
Due to the intense popularity of streaming the OCC revealed last month that they’d be increasing the amount of streams that count as a track sale from 100 to 150. They explain that whilst the streaming champions deserved their position on the charts, the phenomena of streaming led to streamed tracks staying at the top of the charts for weeks on end (see Drake’s One Dance). They hope that the new formula will allow new and rising tracks make a bigger impact on the charts.
OCC’s chief chart overseer, Martin Talbot said: “It is testament to the rapidly changing nature of music consumption in the UK – and the huge shift we are seeing towards streaming – that we are updating the way we measure the contribution of streams to the make-up of the official charts as quickly as we are. Streaming is growing exponentially and the weighting we use to reflect its impact will inevitably keep evolving with it.”
The streaming equivalent sales will be raised to 150 for tracks this month.