UK music industry enjoys third year of consecutive growth

UK music enjoyed its third year of consecutive growth in 2018 with new statistics from music industry organisation the BPI showing revenues hit a staggering £865.5 million.

According to figures published in the BPI's new yearbook 'All About The Music 2019', industry revenues increased by 3.1 percent on the year, and now stand at their highest level since 2009, thanks in part to an increase in subscriptions to streaming services such as Spotify and Apple Music.

The BPI statistics suggest there’s never been a better time to launch your music industry career in the UK, particularly as the success of British artists goes from strength to strength.

2018 saw the likes of George Ezra and Dua Lipa leading the charge while the legendary Queen also enjoyed a fantastic year due to the success of their film ‘Bohemian Rhapsody’ whose star Rami Malek was coached by our very own vocals tutor David Combes.

Over the past two years ICMP has seen an increase in applicants, all keen to take advantage of the opportunities arising from the UK music industry’s ever burgeoning success.

Within six months of graduating, over 94%* of our students are in employment or further education and the average salary of ICMP graduates is £24,000, which is £5,000 higher than other UK music students.**

Paul Kirkham, ICMP Chief Executive, said:

"We’re delighted by the continued great health of the UK music industry. It means that when our graduates have completed their studies and are ready to enter the wider sector, there are more career paths and opportunities for them to embrace than ever before."

At ICMP we keep a close eye on the way the industry develops, ensuring our graduates have the skills and experience necessary to build rewarding careers. But as our graduates’ success demonstrates, they don’t just succeed on a personal level - they are also helping to shape the development of an industry that is a key component of the UK’s cultural and commercial economy." 

Geoff Taylor, Chief Executive BPI & BRIT Awards, said: "The recorded music industry in the UK is showing consistent growth, driven by investment in new talent, innovative global marketing, and offering music fans outstanding choice, convenience and value."

ICMP is also committed to increasing opportunities for underrepresented groups, helping them become part this booming industry thanks to a new range of bursaries.

With the industry in rude health, there's no better time to start your journey and launch your music industry career with us at ICMP. We still have places available to start in 2019 so get in touch with our Admissions Team to find the right course for you.

*Destinations of Leavers from HE (DLHE) Survey - UK domiciled undergraduate leavers 2016/17 | ** DLHE 2017