BPI calls on UK government to seize the opportunity of growing exports from music streaming, as British music export revenues grew to £520 million in 2020.
Music streaming is here to stay. The BPI, the UK’s independent and major labels association, has revealed encouraging statistics about the boost streaming gives to British music worldwide.
In 2020 British music exports were up by 6% from 2019 – growing to £519.7 million, the highest recorded figure since 2000 when records began. In the report the BPI also revealed that 300 British artists achieve over 100 million yearly streams.
Britain is the second highest exporter of music in the world, behind the US. The instant accessibility of streaming services and downloads means there’s never been more opportunities for artists to find new fans, wherever they are based. That’s something we at RouteNote are proud to be a part of, offering free distribution for independent labels and artists to streaming platforms and stores, as well as social media monetization, across the globe.
The BPI revealed that one in 10 songs streamed worldwide are from British artists. Also in the report, however, they noted that the UK’s overall share of global music revenue is unstable, and called on the UK government to quickly utilise the ever-growing streaming market to build on the economic potential of British music.
Geoff Taylor, Chief Executive of the BPI and BRIT Awards, said: “The explosive growth of music streaming around the world represents an unprecedented opportunity for British music. With global competition intensifying, now is the time to push hard, to actively promote our artists to a global audience and maximise our share of global growth, with artists such as Dua Lipa, Harry Styles, Lewis Capaldi, Stormzy, The 1975 and Mabel, among many others, now leading the way alongside the likes of Ed Sheeran, Adele, Coldplay and Arctic Monkeys.
“As the UK builds back from Covid-19 and forges its future as an independent trading nation, music can play a pivotal cultural and economic role. We call on the Government to seize the moment and make music a champion of our global trading ambitions.”
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