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UK record labels’ income hit £1.1 billion last year – the highest since 2006
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nme.comThat's a 7.3 per cent jump on the previous year British record labels reached their highest trade income in 14 years, with sales revenue of just under £1.1 billion in 2019.
The revenue, which grew 7.3 per cent on the previous year, is counted across streaming, CD, vinyl and download sales, public performance rights and sync.
It’s the highest level of annual trade income since 2006, The BPI reports. Across all formats, the equivalent of 154 million albums were streamed, bought on physical formats or downloaded in the UK in 2019.
Last year also saw more than 110 billion tracks streamed for the first time in the 12-month calendar period. The good news comes amid the coronavirus pandemic, which is having an otherwise detrimental effect on the
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