Image caption
Ed Sheeran had the biggest-selling album of 2017
Ed Sheeran, Sam Smith and Dua Lipa helped the British record industry earn £408m overseas last year, the highest figure on record.
Export revenues grew by 12% compared with 2016, fuelled by “phenomenal global demand” for Ed Sheeran’s third album Divide, said the BPI.
The record sold 6.1 million copies last year, beating releases by Drake, Kendrick Lamar and Taylor Swift.
But the BPI warned a “bad Brexit deal” could harm British music’s profits.
“With Brexit approaching, music can help to showcase what is exciting about the UK as we forge new trading relationships,” said chief executive Geoff Taylor.
“But only if our government supports us by ensuring a strong Brexit deal that enables artists to tour freely, robustly protects music rights, and prevents physical music products being impeded in transit.”
Best-selling albums of 2017
1) Ed Sheeran
÷ (Divide)
2) Taylor Swift
Reputation
3) Pink
Beautiful Trauma
4) Rag ‘n’ Bone Man
Human
5) Sam Smith
The Thrill of It All
6) U2
Songs Of Experience
7) Kendrick Lamar
Damn
8) Eminem
Revival
9) Harry Styles
Harry Styles
10) Bruno Mars
24k Magic
Europe is currently the record industry’s biggest export market, generating £165m in revenues last year.
It is closely followed by the US, which accounts for 35% of the UK’s music earnings – but the industry is also seeing rapid growth in new markets including China, India and Brazil.
In total, UK artists accounted for one in every eight albums consumed globally in 2017, the BPI said, with British artists creating four of the year’s top 10 best-sellers.
Once overseas payments were taken into account, the industry contributed £200m to the UK economy.
