The contrasting reality of music industry revenues

First, the figures don't take inflation into account, and comparing the £2.389 billion spent by consumers in 2024 with the £2.221 billion spent in 2011 makes little sense (this sum is equivalent to £4 billion in 2024). Second, the calculation method used by the Entertainment Retailers Association is outdated: streaming now represents 85% of the market, and physical sales only 13%. The ERA continues to convert everything into "album equivalents," even making comparisons with 2004… two years before Spotify was created. Therefore, stating that "the equivalent of 201 million albums was consumed last year in the UK, compared to 172 million albums purchased in 2004" is a bold comparison. Finally, the distribution of revenue raises questions: streaming revenue is significantly less advantageous for artists than CD revenue, and we now know that market shares are concentrated between three major record companies, which are pursuing perpetual consolidation movements.

These triumphant figures are yet another reminder that the music industry benefits the major labels far more, and, more importantly, that they reveal nothing about the economic realities faced by performing artists. A modernization of the calculation method must be considered to reflect the current market reality.