Despite fears about music streaming services being unfair to artists, new research says British music stars are actually getting richer.
The report by Centtrip, a London-based global currency business, reveals household names such as Adele, Robbie Williams and Sir Paul McCartney have all significantly increased their wealth over the past year. In total, Britain’s music millionaires are worth a whopping £24.6 billion. Furthermore, their combined wealth has increased by 18% - or £3.76 billion – since 2014.
In fact, Warner Music Group owner Len Blavatnik is Britain's richest man with a £13.17bn fortune.
And British artists as a whole are punching hard on the world stage, accounting for 30% of the best-selling albums worldwide in 2015. The chart for the Global 40 Top Selling Albums shows 11 British artists and 12 of their albums combined have sold 33.5 million copies - 7% more compared to 2014. This increase demonstrates the growing success of the UK music industry on a global stage.