The UK’s labels body the BPI has announced that exports of British recorded music grew by 20% in 2022 to £709m ($901.3m at current exchange rates).
Harry Styles, Glass Animals and Ed Sheeran were among the big hitters in that growth, but the BPI’s research points to a longer tail of success, with more than 400 British artists passing the 100m annual audio streams milestone last year.
The body also pointed to increases in export revenues for British music of 59% in the Middle East, 48% in Africa and 38% in Latin America, as well as double-digit increases in North America (28%), Europe (11%), Asia (17%) and Oceania (16%).
The BPI says it is on track to reach its goal of £1bn of export revenues a year by 2030, bolstered by a recent increase in government funding for its Music Export Growth Scheme. 23 artists previously funded by that scheme were among the 100m Streams Club last year.
The body has been warning recently of increased competition internationally, particularly as artists from Latin America and South Korea break globally. For now, it seems that British music is holding up in the face of that challenge.