Report: UK Recording Industry Still Vital

The “report says that there are more than 4,000 artists on major record label rosters, with thousands more on independents. Around one in four of these artists were signed in the last 12 months. The report points out that, in the UK, record labels spend 23% of their total revenue on A&R (the average worldwide is 16%), comparing that to the pharmaceutical industry, which spends 15% on research and development.”