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Music Cash Streams In

Spotify, Deezer lift U.K. industry revenue, but it’s still well below the 2001 peak

U.K. music executives had cause to celebrate when figures from the Entertainment Retailers Association showed industry sales grew 9.6 percent last year, almost double 2016’s rate, thanks to faster uptake of subscription services like Spotify, Apple Music, Amazon and Deezer. But revenues are still a pale imitation of the heyday of 2001, when consumers snapped up piles of CDs before filesharing began to erode revenues. At this pace, Britain’s music business still won’t have matched those figures until 2024 -- or adjusted forinflation, until at least 2028.

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