700% Increase in Music Streaming in the UK

700% Increase in Music Streaming in the UK-

Over the past year online streaming servies such as Spotify & Last.fm havereported a mammoth 700% increase in the volume of music streamed.This in addition to the 250 billion songs which were viewed onlinevia YouTube in 2012.

Chairman and chief executive of Universal Music UK and IrelandDavid Joseph revealed to The Guardian that over 7.5 billion tracks were streamed in thelast year, which is up from 1.1 billion in 2011.

In the interview, the music executive goes on to express deepconcerns over the fact that despite these extremely high figures,the year had seen just nine breakthrough UK acts. This is down from2011's 19 acts and a high of 27 artists in 2007.

He said:

"There are two or three more acts to break but it doesn't looklike reaching 19," said Joseph, adding that the industry wastypically expected to break more than 20 acts a year. "Consideringthis is our lifeblood it is of concern to us, and something wefocus on every day."

Joseph also that said comparing the BBC and commercial radio'sappetite for new music was "not comparing apples with apples".

"The BBC does an amazing job introducing new artists," headded. "On commercial radio it often feels we have to create a hitfirst before commercial radio wants to play it. I do believe thereis an audience out there who wants to hear the hits first, not 10weeks later. I would love to see commercial radio take morerisks."

the global music market is forecast to grow by 0.8% in 2014,compared with a fall of 1% in 2012 (and 4.1% in the UK).

"We have held on a bumpy ride but growth is just about tohappen in the worldwide market."