Interesting article about income from vinyl vs YouTube

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Interesting article about income from vinyl vs YouTube

Here’s an interesting article for all you artists out there.

Following reported growth for the eighth year in a row, resurgent sales of music on vinyl generated more income for UK artists than YouTube last year, with British acts including Adele and Ed Sheeran accounting for a record one in six of all the albums sold worldwide.

Vinyl sales grew for the eighth consecutive year in 2015 with more than 2m LPs sold in the UK alone, the most since at least 1994. However, the BPI, the record labels’ association that promotes British music, states that the surge in popularity of British music was not being matched by proceeds from advertising-funded streaming websites such as YouTube

The BPI said YouTube and similar operators contributed a “meagre” £24.4m to music industry coffers, despite an 88% increase in music video streams to nearly 27bn last year. That was narrowly eclipsed by the £25.1m earned by labels from the sale of 2.1m vinyl LPs in 2015.

However, it is true to say that both represent relatively small parts of the industry revenues generated by both streaming and sales of recorded music with total revenues generated by British music amounted to £688m, a fall of 1% on last year. The BPI has called on the government to fix the so-called “value grab” by websites such as YouTube who, it said, paid lower royalties than subscription audio streaming services such as Spotify and Deezer, which contributed a combined £146.1m.

All interesting stuff as the music industry and how people listen to/enjoy their music continues to change and evolve. To read the full article (CLICK HERE). I’m off to listen to some music – on vinyl of course!

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