British industry body the BPI has published its annual ‘All About The Music’ yearbook, offering its take on the UK’s recorded music market in 2021.
Some of the figures are already public – thanks to previous announcements by the BPI (here and here) and ERA (here) – so the interest comes in the trends that the body has chosen to highlight.
Taking centre stage in its announcement was the news that independent labels’ share of the UK market has grown from 22.1% in 2017 to 25.9% in 2020 and now 26.9% in 2021, with indies taking a higher share (34.2%) of album sales specifically.
With the power of major labels currently under the microscope in a market study by the UK’s competition regulator the CMA, the BPI’s analysis showing growth for independent labels is clearly an insight into the case it will be putting forward to the CMA to argue that the market remains competitive for labels of all sizes.
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Tools :: Wyng
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