UK Music Companies Have Their Best Year In Decades

UK record labels enjoyed a 10.6% surge in earnings in 2017 to £839m, thanks to the digital popularity of a new generation of artists including Ed Sheeran, Sam Smith, Dua Lipa and Stormzy. It was the fastest growth since 1995, when Oasis, Blur and Pulp created a high-street CD sales frenzy. Music companies enjoyed a 45% year-on-year increase in subscription streaming revenue – from £239m in 2016 to £347m – as an industry hammered for a decade by illegal piracy now enjoys the success of music lovers turning to legitimate services such as Spotify, Apple Music and Amazon Music.