By Louise Blas - Loading & Prospective Watch in Plaine Images
Many British media have echoed the vitality of the music industry in the United Kingdom, carried by streaming and the sale of vinyls. The Guardian moderates enthusiasm by recalling some details to take into account:
First, the figures do not take into account inflation, and compare the £ 2.389 billion spent by consumers in 2024 with the £ 2,221 billion spent in 2011 has little sense (this sum is equivalent to £ 4 billion in 2024). Then, the calculation method used by Entertainment Retailers Association is obsolete: streaming now represents 85% of the market, and physical sales only 13%. The ERA continues to convert everything into a "album equivalent", even making comparisons with 2004 ... 2 years before the creation of Spotify. To say that "the equivalent of 201 million albums was consumed last year in the United Kingdom, against 172 million albums purchased in 2004" is therefore a bold comparison. And finally, the distribution of income raises questions: streaming income is much less advantageous for artists than those of CDs, and we now know that market shares are concentrated between three large record companies, which pursue perpetual consolidation movements.
These triumphant figures are therefore yet another opportunity to note that the music industry benefits the majors much more, and especially that they say nothing about the economic reality of interpreter artists. A modernization of the calculation method must be considered to reflect the current reality of the market
