Music streaming has officially exploded in the UK
Music streaming has never been more popular in the UK. The latest figures from the Official Charts Company show that 11.5 billion tracks were streamed in the first six months of 2015. That's almost double the 6.4 billion recorded for the same period last year, and close to the 14.8 billion tracks logged for the entirety of 2014. Likewise, streaming on video platforms such as YouTube are skyrocketing. The Official Charts Company reported 14.3 billion streams last year, and already listeners have clocked 12.5 billion streams in 2015.
What impact is this having on the rest of the industry? Pretty much what you would expect. CD and digital album sales are in decline, although vinyl has continued its resurgence with a 56.3 percent rise in 2015. It's a little early to project end-of-year figures, but the British Phonographic Industry (BPI) is suggesting that sales of the classic format could top 2 million this year -- its highest tally since at least 1994. Vinyl sales are, however, still a blip against the gargantuan rise in music streaming. Now that Apple Music has entered the fray, we expect these numbers will be even higher during the latter half of 2015.
