<figure class=”media-landscape” has-caption full-width lead”> Image copyrightAPImage caption Acts like Adele and Coldplay ensured that British artists made up five of the top 10 best-sellers in the world last year
The success of acts like Adele and Coldplay was not enough to reverse a fall in revenue from recorded music in 2015, industry figures show.
The value of live music also fell from 924m to 910m, UK Music said.
However, the total contribution of the UK music business to the British economy remained static, at 4.1bn.
Money earned through publishing and licensing songs to films and advertisements helped make up the shortfall; while the money earned by British producers and recording studios rose from 116m to 119m.
Overall, music industry revenues grew just 0.5% in 2015, falling behind GDP growth.
However, UK Music said the business was “strong” and “resilient”, having recorded growth of 17% since 2012, outpacing the economy as a whole.
“There is every sign that the recorded sector will return to growth in 2016,” said chairman Andy Heath, pointing to the continued success of Adele’s album, as well as increased vinyl sales and higher revenues from streaming services.
Recorded music revenues (source: UK Music)
Year
Revenue
2012
634m
2013
618m
2014
615m
2015
610m
The money generated by subscription streaming – from the likes of Spotify, Google Play and Apple Music – leapt by 83m, from 168m to 251m.
UK Music said the figure would be higher if free-to-access sites like YouTube paid fairer rates.
“The revenues from certain ad-funded digital services… effectively devalue our music,” said Heath.
“The challenge is to convince all services to properly value the brilliantly gifted music we make available.”
Image copyright AP 
