How record labels kept the money flowing in 2020

CMU’s Andy Malt and Chris Cooke review key events in music and the music business from the last week, including new stats from trade bodies the IFPI and BPI showing that streaming kept the record industry in growth in 2020, despite COVID-19, plus the new campaign launched by the Ivors Academy calling on labels to better compensate songwriters for their work.  SECTION TIMES 01: Stats! Stats! Stats! (00:05:15) 02: #PaySongwriters (00:21:40) (Timings may be slightly different due to adverts) STORIES DISCUSSED THIS WEEK • Global record industry revenues grow 7.4% to $21.6 billion in COVID year • BPI stats show slowed growth for UK record label revenues in 2020 • Wider music copyright market grew by 7% to $31.6 billion in 2019 • Ivors Academy calls on labels to #PaySongwriters  DIRECT LINKS TO REPORTS • IFPI Global Music Industry Report 2021 • UK recorded music revenues grew 3.8% in 2020 (BPI) • Music needs to know how much it’s worth (Will Page/Tarzan Economics)  ALSO MENTIONED • Initial artists and keynote interviewees confirmed for The Great Escape Online • All about the TGE Conference • Buy delegate passes for TGE Online 2021  MORE FROM CMU • Book your place on CMU’s weekly webinars • Buy the new Dissecting The Digital Dollar book on Amazon • Sign up to receive the CMU Daily news bulletin