BPI: music industry revenue at Britpop levels

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Streaming, downloads and physical sales have generated nearly as much revenue as the mid-90s Britpop era - and smart speakers might push it even higher.

The music industry is as strong as ever. Although the days of Oasis, Blur and Pulp are behind us, the revenue they generated has been matched this year - so says the British Phonographic Industry.

The combined income from streaming, downloads, physical sales like CDs and vinyl, and licensing for use in media saw a 10.6% year-on-year rise to £839m in 2017.

Revenue from vinyl records rose by 24% - meaning it's now one-fifth the size of the CD market. Perhaps high-definition vinyl can make that grow even further.

Record companies are hoping that big names like Ed Sheeran, Little Mix, Stormzy and Rag ‘n’ Bone Man will push growth even further.

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Adam Smith

Adam was a staff writer for What Hi-Fi?, reviewing consumer gadgets for online and print publication, as well as researching and producing features and advice pieces on new technology in the hi-fi industry. He has since worked for PC Mag as a contributing editor and is now a science and technology reporter for The Independent.