UK artists could double their US sales by 2025, a new report has predicted.
The Confederation of British Industry (CBI) study made the forecast as part of its Creative Nation report.
The research outlined how the British music industry can build on the current success of artists such as One Direction and Adele on the other side of the Atlantic.
According to the report, the CBI is calling for more action to protect intellectual property and more finance options for creative firms to ensure they can continue to grow.
Katja Hall, CBI chief policy director, said: ‘The UK’s creative industries are already world-beaters and make a huge contribution to our economy. Now we need to build on this potential to help them achieve even greater global success.
‘Artists like Adele and One Direction are renowned across the globe, and we believe the UK music industry has the potential to double its share of US album sales by 2025.We should keep thinking big, and with the right support our creative firms can continue to lead the world, create jobs and boost our economy.’
The report also cited figures from PRS for Music as evidence of growth, with the collecting society collecting £184.3m in international royalties during 2012.
According to the CBI, the UK will be a leading exporter across all areas of creative content by 2015. Read the Creative Nation report.
Read our recent breaking the US feature detailing how British artists are succeeding in the states.
The Confederation of British Industry (CBI) study made the forecast as part of its Creative Nation report.
The research outlined how the British music industry can build on the current success of artists such as One Direction and Adele on the other side of the Atlantic.
According to the report, the CBI is calling for more action to protect intellectual property and more finance options for creative firms to ensure they can continue to grow.
Katja Hall, CBI chief policy director, said: ‘The UK’s creative industries are already world-beaters and make a huge contribution to our economy. Now we need to build on this potential to help them achieve even greater global success.
‘Artists like Adele and One Direction are renowned across the globe, and we believe the UK music industry has the potential to double its share of US album sales by 2025.We should keep thinking big, and with the right support our creative firms can continue to lead the world, create jobs and boost our economy.’
The report also cited figures from PRS for Music as evidence of growth, with the collecting society collecting £184.3m in international royalties during 2012.
According to the CBI, the UK will be a leading exporter across all areas of creative content by 2015. Read the Creative Nation report.
Read our recent breaking the US feature detailing how British artists are succeeding in the states.
