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The UK is the third largest territory in the world for sales of recorded music of which it accounts for 10.4% of the global market in 2004 and is a big player in the national economy. It contributes nearly £5bn annually of which £1.3bn comes from export earnings and it employs a total of 102,210 people, with live performance accounting for the largest proportion (50,780). Overall employment in the UK Music Industry increased by 8% between 2006 and 2008. The UK has the third largest industry in the world second to the USA as a source of repertoire and was the last territory to see declining record sales. 88% of the Music workforce is in England and a quarter of all people working in Music do so in London. 6% work in Scotland, 4% in Wales and 2% in Northern Ireland

The Digital Music Market in the UK is developing at a serious pace with new business models improving digital revenues. The BPI website shows that 10% of the population bought some form of digital music in 2008, up from 5% in 2007, 10 million digital albums were sold in 2008, a 65% increase on 2007 and 110 million single tracks were downloaded in 2008, a 42% increase on 2007. Digital tracks now account for 95% of the market, up from 90% in 2007.

Music Industry is now moving away from conventional physical sales in stores such as HMV and moving to the Spotify’s who have just added a ‘Buy Now’ option to coinside with their streaming service and  of course I-tunes.

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