UK music sales soared to an impressive £2.4bn in 2024, breaking a 20-year record, thanks to Taylor Swift’s chart-topping album The Tortured Poets Department, the rise of streaming, and a strong vinyl revival.
Streaming services such as Spotify, YouTube Music, and Amazon generated more than £2bn, up 7.8%. Vinyl sales surged 10.5% to nearly £200m, while CDs sold £126m, the same as last year.
Taylor Swift topped the charts with the album selling over 783,000 copies – including 112,000 on vinyl; the best vinyl album of 2024. A record-breaking Eras tour did not hurt sales, while Noah Kahan’s Stick Season boasted the year’s biggest single, at the equivalent of 1.99 million sales.
Yet, while the industry booms, there are still major question marks over payouts from streaming, with artists reportedly getting much less than anticipated as a result of splits among the rights holders.
ERA dubbed 2024 a “banner year” for music, finally confirming its comeback after years of decline. The charge has been led by streaming and vinyl in proving that the music industry can adapt and grow.
