The 25,000-square-foot facility's opening follows layoffs and office closures at the company, which hopes to capitalize on strong demand for physical formats.
A new report from trade organization UK Music says blockbuster festivals and tours contributed $8.6 billion to the local economy last year.
Consumption of British music increased in every region last year, says BPI.
The government also launches a new review of artist remuneration that will study the impact of AI on music.
An estimated TV audience of 160 million watched the 67th edition of the contest, held in Liverpool, U.K., on behalf of war-torn Ukraine.
The song contest's audience of over 160 million last year shows its unrivaled reach as a marketing platform for record labels to develop artists.
Australia, Austria and Belgium among countries with popular acts joining favorites Sweden and Finland on Saturday night at Liverpool's M&S Bank Arena.
In U.K.’s first Eurovision hosting in 25 years, Liverpool stands in for 2022 winner Ukraine, which continues to fight a war with Russia.
The "BRIT Billion" award makes the United Kingdom the first country in the streaming era to recognize the milestone of drawing 1 billion career streams.
Vinyl generated more money than CDs for the first time in over three decades, though overall revenue from physical formats declined.
