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Thursday, November 5, 2015 3:56am ET by  
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British music industry added £4.1bn to British economy in 2014

New figures published by trade body UK Music have revealed that the British music industry contributed £4.1bn to the country's economy in 2014.

Artists including Sam Smith, boyband One Direction, and singer-songwriter Ed Sheeran were all heavy-hitters in helping achieve this feat as British artists accounted for one in seven albums sold around the world in 2014, with the aforementioned acts all making the Top 10 list of the year's best-selling records. 

The market grew by an impressive 5%, more than the entire British economy, which grew 2.6% in the same period. The BBC reports that "revenues by musicians, composers and lyricists rose 11% to £1.9bn and live music sales jumped 17% to £924m".

Britain has now become the second largest provider of recorded music internationally, accounting for 13.7% of global sales.

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Watch 1D's behind-the-scenes footage from their 'Perfect' music video shoot here:

 

 

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