UK Recorded Music Market Grows 9.7% in 2024 as Physical Sales Show Signs of Recovery
The UK recorded music market grew by 9.7% in 2024, reaching 201 million albums, according to data released by BPI. The industry saw streaming hit an all-time high with nearly 200 billion audio streams throughout the year.
Turntable playing vinyl record
Key highlights from the 2024 market data:
- Women dominated the Official Singles Chart for 34 weeks and claimed 50% of the year's Top 20 albums
- Physical music sales showed positive growth for the first time in 20 years
- Vinyl album sales increased for the 17th consecutive year
- CD sales remained stable, nearly matching 2023 levels
- Streaming grew by 11%, reaching 199.6 billion audio streams
- Streaming now accounts for 88.8% of music consumption, up from 87.7% in 2023
- A record 4 billion audio streams were recorded in a single week (May 2024)
Over 20 British artists topped the Official Album Chart, including The Last Dinner Party, Dua Lipa, Charli XCX, and Coldplay. However, the UK market faced increased competition from the US, South Korea, and Latin America, with these regions receiving significant government support for their music industries.
Top 10 Artist Albums 2024:
- Taylor Swift — The Tortured Poets Department
- The Weeknd — The Highlights
- Sabrina Carpenter — Short N' Sweet
- Noah Kahan — Stick Season
- Billie Eilish — Hit Me Hard And Soft
- Chappell Roan — The Rise and Fall of a Midwest Princess
- Fleetwood Mac — 50 Years – Don't Stop
- Charli XCX — Brat
- Coldplay — Moon Music
- Olivia Rodrigo — Guts
Most-Streamed Tracks 2024:
- Noah Kahan — "Stick Season"
- Sabrina Carpenter — "Espresso"
- Benson Boone — "Beautiful Things"
- Teddy Swims — "Lose Control"
- Hozier — "Too Sweet"
- Shaboozey — "A Bar Song (Tipsy)"
- Billie Eilish — "Birds Of A Feather"
- Chappell Roan — "Good Luck, Babe!"
- Sabrina Carpenter — "Please Please Please"
- Dasha — "Austin"
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