1. Trends in Recorded Music Consumption

How much did UK spending on music increase in 2024?

By 4.8%, reaching £1.49 billion.

How much did UK recorded music consumption rise by in 2024?

By 9.7%, reaching 200.5 million album equivalents.

What percentage of UK recorded music revenue did streaming account for in 2024?

68.1%.

What was the total UK streaming revenue in 2024?

£1.02 billion.

How much of the UK streaming market was made up by paid subscriptions in 2024?

Over 86%, bringing in £875.5 million.

By how much has annual streaming revenue increased since 2014?

By 800%.

What happened to digital download revenue in 2024?

It dropped by 6.6% to £24.3 million.

What was the total physical music revenue in 2024?

£246.5 million (up 1.3%).

How much did vinyl LP revenue rise in 2024?

By 2.9%, to £145.7 million.

How much has vinyl revenue grown since 2014?

By over 659%, from £19.4 million.

How much did CD sales fall by in 2024?

By 0.5%, to £96.7 million.

How many CD units were sold in 2024?

10.5 million units.

By what percentage did UK streaming subscriptions increase in 2024?

By 7.8%.

Which platforms dominate the UK streaming market?

Spotify, Apple Music, Amazon Music, and YouTube.

What role does AI play in music streaming?

It analyses user preferences to personalise recommendations and influence listening habits.

What is one challenge for artists in the algorithm era?

Gaining visibility in popular playlists, which are competitive and algorithm-driven.

How many of the 2024 UK Official Chart number ones were linked to TikTok trends?

10 out of 11.

What proportion of TikTok’s top 50 UK tracks in 2024 were over 5 years old?

19 tracks.

How much more likely are TikTok users to pay for a streaming subscription than the general public?

68% more likely.

How has TikTok changed artist promotion?

It allows direct fan engagement and helps artists reach wider audiences.

How many vinyl units were sold in 2024?

Over 6.7 million.

How many consecutive years has vinyl seen growth?

17 years.

What factors contribute to vinyl’s popularity?

Physicality, sound quality, retro appeal, and support for artists.

What role does Record Store Day play?

It promotes vinyl through exclusive releases and supports independent stores.

Why is vinyl back in the UK’s inflation basket?

It reflects renewed consumer interest and spending on vinyl.