The British music industry contributed £3.8 billion to the UK economy in 2013, according to an annual trade report. The increase can be traced to individual revenues by musicians, singers, composers, songwriters and lyricists, which rose to £1.7 billion. Live music sales rose almost 20 per cent to £789 million, according to the Measuring Music report.

Ed SheeranEd Sheeran found himself at No.1 in the States

There was also an increase in publishing and studio revenues and a 57 per cent increase in UK music exports, which accounts for £2.2 billion. Recently Ed Sheeran and Sam Smith became the first British artists to occupy the top two spots in the American album charts since Eric Clapton and Sting had Unplugged and Ten Summoner's Tales in the chart over two decades ago. .

"The young bearded kids in the pub, making a racket on a Friday night, might just turn out to generate more revenue for HMT than a car manufacturer," said UK Music CEO Jo Dipple, who also asked for help ensuring "the many legal music services we license are given priority in online search results".

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Culture minister Sajid Javid declared the music industry as one of the country's "biggest success stories."

"Not only does [music] make a tremendous contribution to driving economic growth, but it plays a pivotal role in taking British culture to every corner of the globe," he wrote in a press release. "One in every eight albums sold anywhere in the world is by a British artist, and I know that, with the ongoing support from government, this dynamic sector will continue to flourish and thrive."

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