700% Increase in Music Streaming in the UK
Over the past year online streaming servies such as
Spotify & Last.fm have
reported a mammoth 700% increase in the volume of music streamed.
This in addition to the 250 billion songs which were viewed online
via YouTube in 2012.
Chairman and chief executive of Universal Music UK and Ireland
David Joseph revealed to
The Guardian that over 7.5 billion tracks were streamed in the
last year, which is up from 1.1 billion in 2011.
In the interview, the music executive goes on to express deep
concerns over the fact that despite these extremely high figures,
the year had seen just nine breakthrough UK acts. This is down from
2011's 19 acts and a high of 27 artists in 2007.
"There are two or three more acts to break but it doesn't look
like reaching 19," said Joseph, adding that the industry was
typically expected to break more than 20 acts a year. "Considering
this is our lifeblood it is of concern to us, and something we
focus on every day."
Joseph also that said comparing the BBC and commercial radio's
appetite for new music was "not comparing apples with apples".
"The BBC does an amazing job introducing new artists," he
added. "On commercial radio it often feels we have to create a hit
first before commercial radio wants to play it. I do believe there
is an audience out there who wants to hear the hits first, not 10
weeks later. I would love to see commercial radio take more
the global music market is forecast to grow by 0.8% in 2014,
compared with a fall of 1% in 2012 (and 4.1% in the UK).
"We have held on a bumpy ride but growth is just about to
happen in the worldwide market."