Research conducted by BPI, the trade body which represents the U.K.’s music industry, shows a near 6% growth in the country’s music industry in 2018. CelebMix reports on the role of musical films, streaming and vinyl on that rise…
As well as citing “vibrant streaming growth” and “resilient demand for physical formats”, it is blockbuster films that have played a big role in the industry’s continued growth.
The Greatest Showman became the year’s biggest-selling title, shifting more than double the number of copies sold by its closest rival, and spent over half of 2018 on the Number 1 spot. That is a record that beat Adele’s for the number of consecutive weeks spent at that lofty position. The research also acknowledged the spin-off karaoke and Reimagined versions, the latter full of British artists such as Anne-Marie, James Arthur and Years & Years, for their successes.
It’s not just The Greatest Showman which has bolstered industry figures. The Cast Recording of Mamma Mia! Here We Go Again and the infamous tracks from A Star Is Born also finished in the end of year top 10 lists. The biopic Bohemian Rhapsody saw benefits for Queen’s original catalogue and, with similar projects on artists such as Elton John coming this year, that is a trend which looks set to continue.
Other industry high points found in the research include the continued rise of streaming, which now accounts for nearly two-thirds of UK music consumption. In 2018, 91 billion audio streams were made through the likes of Spotify, Apple Music and Deezer – a 34% rise from 2017 and a mammoth 2,350% incline from 2012. Predictions for 2019 state that the landmark of 100 billion streams over 12 months will be shattered, the recent launch of YouTube music being one to watch.
2018 saw another strong performance from the British recorded music business as consumers deepen their engagement with music in its myriad forms. Complemented by collectible physical formats on vinyl, CD and super deluxe box sets, streaming services are enabling more people to discover, enjoy and instantly share music they love. Music’s global reach is also being extended by blockbuster movie soundtracks, such as ‘The Greatest Showman’, ‘A Star is Born’, ‘Mamma Mia! Here We Go Again’, and ‘Bohemian Rhapsody’.Geoff Taylor, Chief Executive BPI & BRIT Awards
Six tracks in the top 10 most popular on streaming services last year came from British artists themselves. Dua Lipa and Calvin Harris’ ‘One Kiss’, George Ezra’s ‘Shotgun’ and ‘Paradise’, as well as Rudimental, Jess Glynne and Dan Caplen’s ‘These Days’, all earnt a place in that ranking.
Whilst streaming services continue to gain listeners, the demand for physical vinyl copies is also on the grow. BPI reports production running at capacity with close to 4.2 million LPs being bought in 2018 (a rise of 1.6% on 2017). Arctic Monkey’s Tranquility Base Hotel + Casino was the best selling record on that format, with The Greatest Showman appearing again at number two. Other British Artists including George Ezra, David Bowie and Amy Winehouse all appeared in the top 10 too. However, the vinyl format has only managed to creep to an equivalent of just over one in 10 of all CD sales.
Iain McNay, Chairman Cherry Red Records, commented:
2018 has been a fascinating year for the physical format, and labels that specialise in it saw an increase in sales. Its metamorphosis into a collectable artefact has accelerated, and more physical releases, whether on CD or vinyl, now come as special-edition box sets.
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