It was the fastest growth since 1995, when Oasis, Blur and Pulp created a high-street CD sales frenzy. Record labels may be enjoying the fruits of new-found digital growth, but they say that not all tech companies are treating the industry fairly. By contrast, music video streaming, dominated by YouTube, which made ad revenue from more than 25bn UK music video streams last year, funnelled just £27m to the industry. However, it is still nearly one-third lower than the UK music industry’s peak year of 2001, when income topped £1.2bn. “The changes labels have made to their business models and their investment in new talent have borne fruit,” Taylor said.

Source: The Guardian April 11, 2018 04:52 UTC