Online music listening in the United Kingdom has almost doubled for the first three quarters of the year, data from the British Phonographic Industry (BPI) showed, according to several sources.
BPI data revealed that audio streams increased to 10.2 billion from January through September, up 89 percent from last year’s 5.4 billion. The numbers represent that around “500 new streams are started every second of every day,” Orange News reported. Citing data from BPI, Music Ally, meanwhile, reported that estimates revealed each person streams 160 songs per year making the total about 300 million streams weekly.
“Streaming music continues to surge forward at record speed. We have soared past the landmark of 300m audio streams a week, adding another milestone as we continue to mark a decade of digital,” BPI chief executive Geoff Taylor said in a statement.
Online streaming giant Spotify, which is still a privately held company at this time, revealed 19 percent of all the songs its consumers listened to in 2014 were songs by British artists. It particularly noted Coldplay, One Direction, Arctic Monkeys, Mumford & Sons, Ed Sheeran and Calvin Harris as top artists that got a lot of streams this year.
“British talent over-indexes to an even greater degree on Spotify, where British artists now make up an incredible one-fifth of all tracks currently streamed worldwide,” Spotify head of label relations for Europe Kevin Brown said.
“This huge market share is testament both to the incredible home-grown talent we have here, and the ability Spotify offers to artists to share their music and build audiences of engaged music fans all over the world,” he added.
The industry body added that during the first 39 weeks of the year, five tracks were listened to over 20 million times each by British audiophiles, including Pharrell Williams’ Happy (30 million streams), John Legend’s All of Me (26 million), Mr. Probz’ Waves and Pitbull feat. Ke$ha’s Timber (21 million). Clean Bandit’s Rather Betakes the cake with 32 million streams in the UK in 2014.
Spoken word audio listening is one space that is also rapidly growing in the online streaming niche. Audioboom (AIM: BOOM), a streaming platform centered on spoken word, is currently the leading pioneer in the space, with 3 million listeners and over 2,000 content partners including BBC Radio, CBS, The Essel Group, Sky Sports, and talkSport. Every month, over 14 million users tune in to digital audio content shared on Audioboom.
Last month, the company gained over 1,744,113 listens on its platform within 24 hours. According to a company statement, 2,051,220 unique users accessed the platform to listen to content from the likes of Sky Sports News and talkSPORT covering football’s transfer deadline day.
The company has recently raised £8 million through the issuance of 64 million new ordinary shares of no par value to institutional and private investors at a price of 12.5 pence per share. Audioboom will use the proceeds for expansion, it said in a statement.
Interested parties can learn more about Audioboom’s investment opportunities and services by visiting the company’s website, http://audioboomplc.com/ and calling its London headquarters at +44 207 403 6688.