UK music sales hit a 20-year high of £2.4bn in 2024, helped by pop megastar Taylor Swift’s latest album, and driven by streaming and the vinyl revival, figures show.

Revenues from recorded music reached an all-time high, more even than at the peak of the CD era, according to annual figures from the digital entertainment and retail association ERA.

Total consumer spending on recorded music – both subscriptions and purchases – topped the previous record of £2.2bn in 2001, ERA said.

Takings from streaming services including Spotify, YouTube Music, and Amazon rose by 7.8% to a little over £2bn.

Almost £200m was spent on vinyl albums, an annual uplift of 10.5%, while CD album revenues were flat at just over £126m.

Swift’s The Tortured Poets Department was the biggest-selling album of the year, aided by her record-smashing worldwide Eras tour.

More than 783,000 copies were bought, nearly 112,000 of them on vinyl – making it 2024’s biggest-selling vinyl album.

The biggest single of the year was Noah Kahan’s Stick Season, generating the equivalent of 1.99 million sales.

ERA chief executive Kim Bayley said 2024 was “a banner year for music, with streaming and vinyl taking the sector to all-time-high records in both value and volume.

Ms Bayley called it the “stunning culmination of music’s comeback which has seen sales more than double since their low point in 2013. We can now say definitively – music is back.”

Music revenues grew by 7.4% in 2024, while video rose by 6.9%, and games fell by 4.4%, according to preliminary figures.

Subscriptions to Netflix, Amazon Prime Video and Apple TV grew by 8.3% to £4.5bn – almost 90% of the sector’s revenues.

Deadpool & Wolverine was the biggest-selling title of the year, with sales of 561,917 – more than 80% of them sold digitally.

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Despite the games sector’s 4.4% decline last year, it remains nearly twice as large as the recorded music business.

Full game sales saw a drop-off with PC download-to-own down 5%, digital console games down 15% and boxed physical games down 35%, in favour of subscription models which grew by 12%.

EA Sports FC 25 – formerly known as Fifa was once again the biggest-selling game of the year, generating 2.9 million unit sales, 80% of them as digital formats.

A representative for one of the world’s biggest fast fashion retailers, Shein was unable to answer questions from MPs over where it sources its cotton from.

Shein’s general counsel for Europe Middle East Africa (EMEA) Yinan Zhu was asked if the company sells products containing cotton from China, mainly the region of Xinjiang, where China has been accused of subjecting members of the Uyghur ethnic group to forced labour.

Speaking at the Business and Trade Committee, Ms Zhu was asked several times whether the company uses cotton supplied from China.

After being pressed on the matter, she said she would have to write to the committee with an answer.

She said: “For detailed operational information and other aspects, I am not able to assist. I will have to write back to the committee afterwards.”

She added: “Obviously, we comply with laws and regulations everywhere we do business in the role. And we have supplier code of conducts, we have robust systems and procedures in place and policies in place.

“We also have very strong enforcement measures in place to ensure we adhere to these standards that are expected in our supply chain.”

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When asked if the company believed forced labour took place in Xinjiang, Ms Zhu reminded MPs of the “agenda of the committee, as I understand it, we’re looking at upholding standards”, before adding: “I’m only able to answer the questions that are relating to our business.”

Shein was founded in China in 2012 and is now a leader in fast fashion, shipping to 150 countries.

Committee chairman Liam Byrne challenged Ms Zhu, but she repeated she would have to write to the committee afterwards.

Mr Byrne said the parliamentary committee was “horrified” by the lack of information provided and said Zhu’s statements gave lawmakers “zero confidence” in the integrity of Shein’s supply chains.

“The reluctance to answer basic questions has frankly bordered on contempt,” Mr Byrne said.

The top lawyer’s responses were said to be “ridiculous” and “very unhelpful and disrespectful” by committee member Charlie Maynard.

When Ms Zhu said she was answering to the best of her ability, the Lib Dem MP said: “That is simply not true. We’ve asked you some very, very, very simple questions and you are not giving us straight answers.”

Ms Zhu also said she was unable to say anything about reports the online giant was preparing to list as a public company on the London Stock Exchange.

Sky News reported exclusively in June that Shein had prepared to file a prospectus with the Financial Conduct Authority for approval ahead of a potential float on the exchange.

But when asked on Tuesday if this was true, and why the company had stopped pursuing a New York Stock Exchange float, Ms Zhu said she was unable to comment on any IPO (initial public offering) speculation as it was not her remit.

Right-hander Justin Verlander and the San Francisco Giants are in agreement on a one-year, $15 million contract, sources told ESPN on Tuesday, continuing the future Hall of Famer’s career at age 42 in one of the pitcher-friendliest stadiums in baseball.

Verlander, entering his 20th major league season, is considered perhaps the best pitcher of his generation, with the most innings pitched, strikeouts and wins among active players. A three-time Cy Young Award winner, Verlander is coming off the worst season of his career and joins a Giants team likewise looking for better results than 2024. The deal is pending a physical.

Shoulder and neck injuries limited Verlander to 17 starts, and over his last seven he posted an 8.10 ERA. With a falling strikeout rate and climbing home run rate, Verlander began to show signs of aging after a career in which he seemed impervious to it.

After a dominant 13-year stretch with the Detroit Tigers, Verlander found a second life after joining the Houston Astros in 2017. He won Cy Youngs in 2019 and 2022 — and after the latter signed a two-year, $86.6 million contract with the New York Mets. Verlander spent 16 starts with the Mets before being traded back to the Astros in August 2023.

Over his career, Verlander is 262-147 with a 3.30 ERA over 3,415⅔ innings. He has struck out 3,416 batters, walked 952 and won a pair of World Series with the Astros.

Returning to Houston wasn’t an option for 2025. With Oracle Park a dream for pitchers, Verlander gravitated toward the Giants, whose rotation includes right-hander Logan Webb, left-handers Robbie Ray and Kyle Harrison, and a number of other options for the fifth spot, with right-hander Hayden Birdsong seen as the likeliest candidate.

The Giants had spent a month with limited action before signing Verlander. A month ago to the day, they agreed with shortstop Willy Adames on a seven-year, $182 million contract.

San Francisco, which hired former star catcher Buster Posey as its president of baseball operations in September, went 80-82 last season and finished in fourth place in the National League West, which is arguably the best division in baseball.