A Boost for Physical Music Formats and Retailers

  • UK music sales reach a 14-year high in 2019
  • Fifth consecutive year of growth in recorded music consumption
  • Equivalent of 154 million albums consumed through streaming, physical formats or downloads
  • Streaming accounts for 74.4% of Album Equivalent Sales (AES)
  • Vinyl LP sales rise for the 12th consecutive year
  • Liam Gallagher’s Why Me? Why Not tops vinyl chart with over 29,000 copies sold
  • HMV opens a new megastore in Birmingham

The British Phonographic Industry (BPI) has reported a significant increase in music consumption in the UK, with 2019 marking the fifth consecutive year of growth. Streaming services contributed to this rise, accounting for three-quarters of Album Equivalent Sales (AES). Vinyl LP sales also experienced a 12th consecutive year of growth, with Liam Gallagher’s album ‘Why Me? Why Not’ being the top seller in that category. HMV opened a new megastore in Birmingham to cater to this resurgence of physical music formats.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the growth in music consumption in the UK, streaming numbers, vinyl LP sales, and the opening of a new HMV store. It also includes quotes from industry professionals. However, it contains some personal perspective from Vanessa Higgins regarding the potential for British manufacture of physical products.
Noise Level: 3
Noise Justification: The article provides relevant information about the growth in music consumption and streaming in the UK, as well as the resurgence of vinyl sales. It also mentions the opening of a new HMV store. However, it lacks in-depth analysis or exploration of long-term trends or consequences of these developments.
Financial Relevance: Yes
Financial Markets Impacted: HMV’s expansion and growth in vinyl sales impacting music industry companies
Financial Rating Justification: The article discusses the growth in consumption of recorded music, streaming, and vinyl LP sales, which can affect the financial performance of music companies such as HMV and other related businesses.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The information provided discusses growth in music consumption and sales, with a focus on streaming and vinyl LPs.

Reported publicly: www.retailsector.co.uk