The Know Daily - Thursday 16 January 2025

_{Read in 4m 29s ∙ Listening to Billie Eilish ∙}

Saplings from the felled Sycamore Gap tree – which was cut down in September 2023 – are being given to charities and individuals as “trees of hope”. The saplings are being cared for by the National Trust, and will be ready to plant next winter.

🎵 Music sales

Brits are spending record numbers on music, a new report has found.

Tell me more.
UK music sales hit a 20-year record high of £2.4bn in 2024, according to recent statistics from the Digital Entertainment and Retail Association (ERA). The biggest-selling album of the year was Taylor Swift’s The Tortured Poets Department, which sold almost 790,000 copies. Whereas Noah Kahan had the biggest single with Stick Season, which saw nearly 2m sales. 

After reaching a low point in sales in 2013, the industry has rebounded and “we can now definitely say music is back”, according to a spokesperson from the ERA.

Why?
The proliferation of music streaming services played a big part. Platforms such as Spotify and Apple accounted for nearly 85% of money spent on music in 2024. Aside from streaming services, there has been a revival of physical listening formats. Almost £200m a year was spent on vinyl albums, that’s a 10.5% increase compared to 2023. In fact, 2024 was the first year in two decades to see a rise in sales of vinyl, CDs and cassettes – largely driven by big artists like Taylor Swift and BIllie EIlish opting to release their music on vinyl.

While streaming accounts for the majority of music revenue, the ERA doesn’t expect future listening to be solely digital. Physical and digital channels are “complementary”, both are “vital for the health of the entertainment market overall”, they said.

Anything else I should know?
Artists aren’t enjoying the record revenue of the music industry, said a spokesperson from the Musicians Union. Stagnating public arts funding, the high cost of touring and unfair distribution of streaming revenue funds are challenging artists’ sustainability within the industry.

However, some platforms like Spotify are working towards better remuneration for artists. In 2023, the company reported a record number of payments – $9bn – to the music industry, resulting in increased revenue for artists and songwriters.

📉 Economy update: The UK inflation rate unexpectedly fell to 2.5% last month.

• The bigger story: The drop was driven by falling hotel prices and smaller airfare rises, raising hopes of an interest rate cut next month.

🎥 Add to watchlist: This year’s Bafta nominations are out – see if any of your faves made the list.

🤝 Security talks: PM Keir Starmer is visiting Ukraine for the first time since taking office to sign a “landmark” deal.

⚽ Talking football: These are the presenters replacing Gary Linekar on Match of the Day.

🌌 Space crafts: New 3D printing technology could make space exploration more sustainable.

🎾 Grand Slam: The Australian Open is recreating tennis matches with animated characters.

🇫🇴 Responsible travel: The Faroe Islands will allow just 80 “voluntourists” to visit for three days in May.

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Trivia answer: C) Octopuses have 3 hearts and blue blood 🐙

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