More artists and tracks succeed on streaming than ever before
BPI “All About the Music” 2022 yearbook reveals more artists and tracks succeed on streaming than ever before.
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UK record labels invested £494.8 million supporting artists’ careers and development in 2021 through A&R, marketing and promotion – more than double their investment in 2016, according to new figures released by the BPI, the representative voice for independent and major record labels across the UK.
The latest round of Music Export Growth Scheme (MEGS) funding sees the Department for International Trade (DIT) and the Department for Digital, Culture, Media & Sport (DCMS) jointly committing £500,000 to help UK artists drawn largely from the independent community to grow their international profile in overseas markets.
Geoff Taylor, the Chief Executive Officer of record label trade body the BPI, who also oversees the BRIT Awards and the Mercury Prize, has announced his intention to move on in 2023 to a more directly commercial role, after 25 years working for label associations, including more than 15 years leading the BPI.
On 27th July, BRIT School alumni Jessie J took to the KOKO Camden stage for an intimate acoustic performance, all in aid of The BRIT School.
This piece was first written by BPI CEO Geoff Taylor for Music Business Worldwide, published online on 2nd August 2022.
In response to the Competition & Markets Authority interim report on music and the streaming market, BPI CEO Geoff Taylor comments.
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