Global success enjoyed by the likes of Central Cee, Charli xcx and Dua Lipa helped lift British music exports to a record high of £794 million ($1.72 billion) in 2024, according to new figures from the British Phonographic Industry (BPI).
The London-based trade body says last year’s total is the highest since it began analyzing labels’ overseas income in 2000, and that it’s more than triple the £243 million ($328 million) from 2013. The result also means that the U.K. remains the world’s second biggest exporter of music, making up around 8% to 9% of global streams, says the BPI.
Driving last year’s stats was a combination of established, globally successful British artists and a new generation of homegrown talent making waves on the world stage. In total, around 600 artists accumulated more than 100 million global streams throughout 2024, including high-charting releases from Central Cee, Charli xcx and Dua Lipa, alongside platinum singles for Myles Smith (“Stargazing”) and Good Neighbours (“Home”).
Data by Luminate shows that the list of top revenue-generating artists also includes contemporary himakers Adele, Arctic Monkeys, Ed Sheeran, Harry Styles and Sam Smith, as well as icons who first rose to prominence in the 1970s, such as Queen and Elton John.
Consumption of British music increased in all but one of the main global regions in 2024, says BPI. This trend was led by an incrase of 29% in the Middle East and 12% in Africa. North America and Europe remained the biggest regions for export.
The BPI attributes many of these major gains to British record labels’ long-term investment in new talent and established acts. The organization reports that between 2020-2024, label businesses invested more than £2 billion ($2.7 billion) in artist A&R and marketing.
The rate of growth is declining, however. The BPI reports that income from the sales and streams of British music overseas increased by just 1.9% in 2024, compared to 7.6% in 2023 and 20% in 2022. In previous years, the consumption of British music globally was bolstered by extensive album and touring campaigns from superstars including Styles and Lewis Capaldi. Last year, however, no British artists ranked among the 20 most-streamed artists globally, according to the IFPI.
BPI chief executive Dr Jo Twist said in a statement: “It’s brilliant to see British artists, backed by their labels, continue to shine on the world stage, including a new generation of talent such as Charli XCX, Lola Young, and Myles Smith, among others. Their emergence shows we are on the cusp of future success.”
In her statement, Twist also stressed the importance of raising awareness around the government’s potential future approach to generative artificial intelligence training, as well as highlighting the need for further conversation around music education in the U.K.
Twist continued: “If we are to realise this potential in an increasingly competitive global market and keep British music a headline act, we need the right environment where the industry comes together to deliver growth to the UK. We have a Government that values not just the cultural power of British music but also the foundations of its success: creative arts education, labels that are supported and encouraged to invest in talent, successful programmes like the Music Export Growth Scheme, and a gold standard copyright framework that safeguards creativity and rewards human artistry.”