UK recorded music market surpasses £1 billion for first time in 2024

The UK recorded music enjoyed a “decade of growth” as 2024 marked a milestone year for revenues. In 2024, the UK recorded music industry celebrated a significant milestone: streaming revenues exceeded £1 billion for the first time, contributing to total wholesale revenues of £1.49 billion, according to figures provided by the BPI. This achievement marks ten consecutive years of growth, with the industry experiencing over 80% expansion during this period. Streaming services such as Spotify, Apple Music, and Amazon Music have become the dominant force in music consumption, accounting for 68.1% of the industry’s revenue. In 2024, streaming revenues grew…