Milestone or Millstone?

Was 2024 really a good year for UK recorded music?

Happy New Year to the Radio Edit’s readers and subscribers. In case you missed it, on Medium, I closed out 2024 with an article about record deals, where I discussed the evolution of the record deal, its place in artist development and the importance of risk for artists and labels alike. I’ve also kicked off an experiment to offer a paid version of this Substack: I’d love supporters to participate and have a compelling promotion running this January - more details at the end of the post.

It’s still fairly sleepy in the music biz, unless you’re someone who publishes“first look” statistics from trade bodies to outline sector performance. The BPI, the industry trade body for recorded music, said “2024 figures reveal another milestone year for UK recorded music” . Consumer spending on music, according to the Entertainment Retailer’s Assocation (E.R.A), generated £2.4BN, which eclipsed 2001’s previous high point. But how was 2024 really for the UK recorded music sector?