THE STATE OF THE MUSIC INDUSTRY 2018

THE STATE OF THE MUSIC INDUSTRY 2018

jeanniejeanniejeannie.co.uk BLOG 5th January 2019t

Is this the end of owning music?

 

Sales of vinyl are at a 25-year high, but growth stagnated in 2018

 

Sales of CDs plummeted by 23% last year, as consumers flocked to streaming services for their music.

 

Just 32 million CDs were sold in 2018 – almost 100 million fewer than in 2008; and a drop of 9.6 million year-on-year.

 

The growth of vinyl also began to plateau, with 4.2 million records sold, a rise of just 1.6%, said the BPI.

 

Shrinking shelf space in supermarkets contributed to the slowdown, but HMV’s troubles suggest we are increasingly uninterested in owning our music.

 

The CDs that did sell in large quantities tended to appeal to older, non-traditional music buyers – with six of the year’s top 10 albums either film soundtracks or Now compilations.

 

The picture is the same in America, where CD sales have fallen 80% in the last decade, from roughly 450 million to 89 million.

 

In a sign of the times, two of the records nominated for album of the year at the Grammys (H.E.R.’s self-titled debut and Cardi B’s Invasion of Privacy) weren’t even released on CD in the US – the first time that’s happened since 1984.

 

“Lots of us have changed the way we consume music and film, and more people are streaming from Netflix or Spotify,” Kim Bayley of the Entertainment Retailers Association recently told BBC Radio 5 Live.

 

“But I think we should remember that [physical music] is almost a £2bn business. Even HMV has sales still of a quarter of a billion pounds, so that’s not a small business.”

 

The top 10 albums of 2018

 

Jon Tolley, who runs the independent record shop Banquet Records argues that streaming can co-exist with vinyl and CDs.

 

“I don’t buy it that physical music is necessarily competing with streams. We all access music and film on the internet, and that’s fine and healthy and valid, but you wouldn’t look at the Mona Lisa on your phone and think it’s the same thing as going to see it in a gallery.”

 

“The reason vinyl sales are at a 25-year high is because people are rejecting this part of modern society where everything is immediate and nothing means anything.”

 

Mumford and Sons star Ben Lovett agrees. “We all use Spotify but I think we all value vinyl,” he told BBC News.

 

“We’ve spent a lot more time talking about how we put our vinyl out than we have done about how we’re going to stream our songs.

 

“We will literally talk about the weight of the vinyl, the presentation, the quality of the cut – all that stuff. People don’t know how important it is to us.”

 

Fellow musician Jack White recently told Rolling Stone he thought the CD was on the way out.

 

“I definitely believe the next decade is going to be streaming plus vinyl – streaming in the car and kitchen, vinyl in the living room and the den. Those will be the two formats. And I feel really good about that.”

Skip Youtube post by BBC Radio 1

 

Top 10 vinyl albums of 2018

Artist                                                                      Title

1) Arctic Monkeys                                               Tranquility Base Casino and Hotel

2) Various Artists                                                 The Greatest Showman

3) Fleetwood Mac                                               Rumours

4) Queen                                                                Greatest Hits

5) Pink Floyd                                                        Dark Side Of The Moon

6) George Ezra                                                     Staying At Tamara’s

7) Nirvana                                                             Nevermind

8) Oasis                                                                  (What’s The Story) Morning Glory

9) David Bowie                                                    Legacy

10) Amy Winehouse                                           Back To Black

 

In contrast to the physical market, streaming services are flourishing.

 

A total of 91 billion songs were played on Spotify, Apple Music and their competitors last year – the equivalent of 1,300 songs per person in the UK – and streaming now accounts for nearly two thirds (63.6%) of all music consumption in the UK.

 

The popularity of on-demand music was enough to compensate for the slump in CD sales and downloads; giving the industry it’s fourth consecutive year of growth.

 

A total of 142.9 million albums were either streamed, purchased or downloaded, with an estimated retail value of £1.33 billion, said trade body the BPI.

 

However, it was a poor year for new talent. Anne-Marie’s Speak Your Mind was the year’s biggest-selling debut album, shifting 160,000 copies – but no other debut sold more than 60,000, the threshold for a silver disc.

 

Top 10 singles of 2018

Artist                                                                      Title

1) Calvin Harris & Dua Lipa                             One Kiss

2) Drake                                                                                God’s Plan

3) George Ezra                                                     Shotgun

4) Keala Settle                                                      This Is Me

5) Rudimental                                                      These Days

6) Ed Sheeran                                                       Perfect

7) Drake                                                                                Nice For What

8) George Ezra                                                     Paradise

9) Ariana Grande                                                 No Tears Left To Cry

10) Portugal The Man                                        Feel It Still

 

BPI chairman Geoff Taylor praised the “strong performance” of British music, but warned that the industry shouldn’t become complacent.

 

“As we are already seeing, including with the news that HMV has gone into administration, continuing growth could be put at risk if a hard Brexit further harms consumer confidence or Government fails to ensure that all platforms using music pay fairly for it.

 

“If these risks are avoided, British music remains poised for further growth.”

 

Mark Savage

INSPIRATIONAL QUOTE FOR THE DAY

Show me a thoroughly satisfied man and I will show you a failure. Anon

HAPPINESS IS…

Happiness is…Spotify

 GRANDAD’S ONE LINER JOKE OF THE DAY

Out of my mind. Back in five minutes.

LOVE IS…

Love is…music to your ears

TRACK OF THE DAY

SWEET BUT PSYCHO – AVA MAX

Highest Chart Position: No.1 28th December 2018

WHAT DAY IS IT?

Saturday 5th January 2019

Whipped Cream Day

Bird Day

WHAT DAY WAS IT YESTERDAY?

Friday 4th January 2019

Pop Music Chart Day

Braile Day

 

 

©2018 Phil M Robinson & jeanniejeanniejeannie.co.uk