'Music is back' as Swift helps drive record UK sales
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UK music sales hit a 20-year high of £2.4bn in 2024, helped by pop megastar Taylor Swift's latest album, and driven by streaming and the vinyl revival, figures show. Revenues from recorded music reached an all-time high, more even than at the peak of the CD era, according to annual figures from the digital entertainment and retail association ERA.
Total consumer spending on recorded music - both subscriptions and purchases - topped the previous record of £2.2bn in 2001, ERA said. Takings from streaming services including Spotify, YouTube Music, and Amazon rose by 7.8% to a little over £2bn. Almost £200m was spent on vinyl albums, an annual uplift of 10.5%, while CD album revenues were flat at just over £126m.
Swift's The Tortured Poets Department was the biggest-selling album of the year, aided by her record-smashing worldwide Eras tour. More than 783,000 copies were bought, nearly 112,000 of them on vinyl - making it 2024's biggest-selling vinyl album. Taylor Swift wraps her record-breaking Eras Tour in Vancouver.
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ERA chief executive Kim Bayley said 2024 was "a banner year for music, with streaming and vinyl taking the sector to all-time-high records in both value and volume. Ms Bayley called it the "stunning culmination of music's comeback which has seen sales more than double since their low point in 2013. We can now say definitively - music is back.".
