According to the Entertainment Retailers’ Association, a 9.6% rise in UK retail spending on music last year – up to £1.2bn ($1.5bn) – was propelled forward by a rise in subscription streaming of 42%.
Another reason to be cheerful: that growth (9.6%) was more than double the rate of increase seen in the prior year (3.5%). This is why the BBC has proclaimed that streaming is fuelling a “music industry boom”, while the BPI – the UK’s recorded music trade body – is expressing admiration for the fastest growth seen by the biz this Millennium.
Yet any suggestion that 2017’s results were a return to the full-on glory days of the record business is, frankly, an outright falsehood. read more at musicbusinessworldwide.com