EMI Triumphs: Secures Significant Market Share in a Record-Breaking 2023

EMI has secured a significant market share triumph for the year 2023, with the Universal Music UK label also claiming the top spot as the No.1 streaming label for the past 12 months. These exclusive UK label market share results, based on Official Charts Company data, were disclosed by Music Week. The overall market figures for 2023, provided by the BPI, showed a ninth consecutive year of growth, with a remarkable 10% increase in recorded music consumption across all formats.

EMI Emerged As The Leader In Market Shares

With the final numbers now available, EMI emerged as the leader in market shares based on the All Music – All Albums metric, which measures all sales and streaming consumption on a comparable album units basis. EMI secured an 11.2% share, surpassing its nearest rival RCA by 1.2 percentage points. EMI’s market share increased from 10.5% the previous year, maintaining its No.1 position. The overall consumption across all formats grew by 16%, outpacing the 9% market growth.

Rebecca Allen and Jo Charrington expressed their excitement about EMI’s performance in 2023, describing it as an exhilarating year filled with brilliant music and achievements. They credited their incredible artists, management teams, and the exceptional EMI label team for their success, looking forward to what 2024 holds.

In the final quarter (Q4) of 2023, EMI continued its dominance with an 11.9% market share of All Music – All Albums. RCA also performed strongly, achieving a 10% share, up from 9.4% the previous year. Polydor secured the third position with a 9.1% market share, experiencing a 23% year-on-year consumption increase.

Capaldi’s “Broken By Desire To Be Heavenly Sent – the biggest album by a UK artist.

Universal Music UK, with a 35.9% market share, outperformed the market in 2023 based on the All Music – All Albums metric, increasing consumption by 11% compared to the 9% market growth. XL Beggars and AWAL also demonstrated notable consumption increases of 22% and 15%, respectively.

Believe achieved an extraordinary 394% consumption increase, securing a market share of 0.3% and becoming the 10th biggest corporate group.

EMI claimed the No.1 spot for Track Streams, surpassing RCA with an 11.0% share. In total, EMI accumulated 16.8 billion streams in 2023, outperforming the market growth by increasing its streaming consumption by 16% year-on-year, compared to the overall market’s 11% growth.

EMI’s success in 2023 extended to album releases, with Lewis Capaldi’s “Broken By Desire To Be Heavenly Sent” being the biggest album by a UK artist. Taylor Swift’s “1989 (Taylor’s Version)” was the overall biggest album release of the year.

Sony Music claimed an impressive 27 weeks at No.1 during 2023

In the singles chart, Sony Music claimed an impressive 27 weeks at No.1 during 2023, with a total of six out of the Top 10 singles in the year-end rankings.

Warner Music secured the biggest-selling compilation album of the year with “Barbie: The Album,” registering 177,655 sales and producing multiple hit singles.

Catalogue consumption strengthened in the 2023 year-end charts, with Warner Music‘s Rhino performing exceptionally well on Track Streams with 11% year-on-year growth.

Source: musicweek.com