UK Music Sales Hit 20-Year High, Driven by Streaming and Vinyl

Taylor Swift's latest album and a resurgence in vinyl helped push UK music revenues to a record £2.4 billion in 2024, but artists continue to struggle with low earnings.

The UK music industry reported record revenues of £2.4 billion in 2024, surpassing the previous high of £2.2 billion from 2001, fueled by streaming and vinyl sales.
Streaming accounted for 85% of total revenues, growing 7.8% to over £2 billion, while vinyl sales increased by 10.5% to £196 million, marking 17 consecutive years of growth for the format.
Taylor Swift's 'The Tortured Poets Department' was the UK's top-selling album, with 783,820 units sold, including nearly 112,000 vinyl copies, making it the year's best-selling vinyl album.
Despite the industry's financial growth, nearly half of UK musicians earn less than £14,000 annually, with calls for fairer streaming royalty distribution and better support for grassroots venues.
The Entertainment Retailers Association highlighted the shift from physical sales to subscription models as a key driver of growth, though inflation-adjusted revenues remain below early 2000s levels.

NME

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