The first six months of 2017 are complete and it’s time to see how the Music Industry is getting on so far for 2017. As predicted, audio streams are still a major driver for sales and subscription streams have continued their meteoric ascent.
Here are the 2017 UK music sales highlights so far
Ed Sheeran driving the UK music industry sales for Q1
Ed Sheeran’s ÷ album has been essential in boosting UK music industry sales by more than 10% in the first quarter. With mind-blowing sales figures, Sheerans song ‘Shape of You ‘ hit total sales of 1,811,910 and 120,810,200 streams in Q1 2017 alone. To put this in perspective, the popular Justin Bieber song ‘Love Yourself’, which pre-ed’s album-release claimed ‘most-streamed’ had a significantly less 40,478,695 streams.
Several other artist were also huge in contributing to the surge. For instance, Rag ‘n’ Bone Man’s record-breaking debut Human, Take That’s recent alum Wonderland and Stormzy’s hugely anticipated GSAP album have also helped, with a 55.6% surge in audio streams.
Youtube and Latin America are taking over the world
With the Luis Fonsi song ‘Despacito’ reaching the title of the ‘Most Streamed Track in History’ last week with 4.6 billion streams, the Latin American Music Market and the role of streaming aremore prominent than ever.
Latin America is becoming the streaming powerhouse of the world. Despacito is not standing on its own, the Shakira song ‘Chantaje’ became the first Latin American Spanish language track to reach 1 billion views earlier this year. The proportion of Latin America’s contribution to stream vs. its following is uneven. It accounts for 17% of all subscribers globally but 27% of all streaming video users.
The British Live Market Grows to Generate £4 Billion
Britains live market surge is showing no sign of calming, with over 30 million people attending concerts and festivals in 2017, up 12% on the previous year. The increase in sales meant that music fans contributed £4 billion to the U.K. economy, up 11% from 2015’s figures.
Box office receipts have climber 19% to £656 million, while direct spend which includes tickets, transport and accommodation has increased 9% year-on-year to total at £2.5 billion.
Overseas music tourists also climbed, seeing a rise of 7% year-on-year to total at 823,000.
"Live music in the U.K. is a tremendous success story and makes a massive contribution to our culture and general wellbeing, as well as our economy,"
said UK Music chief executive Michael Dugher, citing music's "incredible power" to heal, following the May 22 Manchester Arena bomb attack that killed 22 people, many of them children, and injured hundreds more.
Old music is live and kicking
There are a number of old albums placing increasingly high in 2017’s best sellers. We now live in a world where Pink Floyd’s The Dark Side Of the Moon, released in 1973, sells more copies (34,666) than the hot new waxing from Dua Lipa (31,340).
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