Data collected by the association of independent and major record labels has revealed that the UK recorded music industry has increased by 12.8% following a drop in sales in 2020. CDs have contributed to £117.2 million of revenue which is a 1.4% rise and the first increase since 2017. Vinyl is continuing to make sales with a 34% increase since last year. According to CITY A.M Geoff Taylor, Chief Executive BPI, BRIT Awards & Mercury Prize, said: “After a tough few years we are also pleased to see growth across the sector, including in physical formats, sync, performance rights and beyond. This growth yields important benefits for the broader music community, including greater remuneration to a wider base of artists and additional investment by labels in new talent.” [ source ]
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