British music exports rose 13.7% to £590.8 million ($709 million) in 2021, a record total, according to the latest analysis by the British Phonographic Industry (BPI), the trade body for Britain’s independent and major record companies.
The 2021 total is the highest since the BPI began its annual survey of record label overseas earnings in 2000 and was driven by a record number of UK artists, almost 400, who each achieved more than 100 million global streams. These include superstars such as Adele, Dua Lipa, Dave and Ed Sheeran, as well as a number of emerging artists including Glass Animals, PinkPantheress and Rex Orange County. More than 600 UK artists achieved at least 50 million streams, while over 1,500 surpassed 10 million streams.
The analysis shows that physical and digital download sales, streaming and other consumption of British music grew by 17.6% in Europe, 11.0% in North America and 11.1% in Asia. Ten of the UK’s top 20 music export markets saw double-digit growth compared to last year, led by China with 61.2% growth, the US (up 10.4%), Germany (up 31.3%). , France (20.1% growth) and Canada (18.% growth). UK music exports to Latin America were up 12.7% overall, including 19.2% year-on-year in Mexico.
However, the UK’s share of the global market is under pressure from established markets that are consolidating their global market share, such as the US and Europe, and fast-growing domestic music markets that are achieving greater international success, such as Latin America and South Korea, the analysis notes.
Geoff Taylor, chief executive of the BPI, BRIT Awards and Mercury Prize, said: “These record figures once again underline the extraordinary popularity of British music internationally. It’s not just about our beloved superstars, it’s also about new artists and bands from across the UK who are benefiting from their label investment and with knowledge can successfully navigate the competitive streaming landscape.
“Recent market estimates indicate that the global recorded music industry could double by 2030, meaning more artists will have many opportunities to achieve international success and bring their music to U.K. PLC,” Taylor added. “However, continued success is not guaranteed as competition in international markets increases, making it harder to break through and putting pressure on our global market share. The Music Export Growth Plan provides vital funding to help independent labels and artists expand their business overseas, and with continued government support, British music will continue to flourish around the world .
More than 60 UK artists whose music was streamed at least 20 million times worldwide last year received funding through the Music Export Growth Scheme, an export support scheme for independent music companies, run by the BPI and jointly funded by the industry and the UK government.
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