Retailers’ group backs streaming contribution to UK music growth in 2016

entertainment-retailers-association-canvasThe Entertainment Retailers Association has released its 2016 report, and the findings add to the body of numbers pointing to rapid streaming growth in the UK. The report named music as the country’s fastest-growing entertainment sector, with sales growing 4.6% over the previous year to £1.1 billion ($1.3 billion). Streaming was the growth generator by this accounting, with a 65.1% increase in sales to £418.5 million. Physical music sales still held a larger share of music than streaming, but its sales for the year declined 7.3% to settle at £475.4 million. All digital sources now account for 57% of the UK music revenue.

Both the ERA and BPI use data from the Official Charts Company for their analyses, but the ERA streaming revenue stats are based on the group’s own estimates. The BPI 2016 report found overall growth of 1.5% for UK music consumption, but it also noted large jumps in the contributions from the streaming economy.

Anna Washenko

Leave a Reply

Your email address will not be published. Required fields are marked *