Annual growth in music streaming volume in the United Kingdom was widely expected to slow down in 2020. Instead, driven by the pandemic lockdown, it sped up – in a big way.
According to new BPI statistics analyzed by Music Business Worldwide, the UK played host to 139.3bn audio streams across the 12 months of last year.
That was up by 25.1bn on the UK’s total audio streaming volume in 2019, which stood at 114.2bn.
2020, therefore, saw the UK’s biggest ever annual growth in audio streaming volume.
The reason many believed the UK’s total audio streaming volume growth would slow in 2020 is simple: it’s a mature streaming market, having welcomed Spotify’s back in 2009, two years before the US.
As a result, annual growth in streaming subscription revenue has been slowing in the UK of late: in 2019 – according to stats from the Entertainment Retailers Association (ERA) – the UK’s total spend on streaming subscriptions grew by £190.9m year-on-year, which was down on the £210.1m annual growth seen in 2018, and down on the £195.3m growth seen in 2017.
Some positive news for the UK Music industry which has undoubtedly been shook by the global pandemic.
Reported By: Jessica Rowe