Paul, Ringo, George, John in 1965
The answer to this would depend on the type of music you like to many the pop music scene is limited to the UK market and Europe I mean Girls Aloud aren’t famous in America but I bet they are Huge in Japan. In the 1990’s with the rise of Britpop and bands like Blur and Oasis and people spoke about how British Music was making a return to the 1960/1970s. Yes those bands were popular but not in America, Oasis had moderate success but like many British bands the American market is still elusive.
One way to get success in the US market it to have a duet with a popular US artist an example of this currently is James Morrison and Nelly furtado which can be seen in below video. This song will also have a wider appeal as fans of both singers will buy the single.
British music still matters in the back catalogue of its history, The Beatles, the Rolling Stones amongst others are all bands from more than 30 years ago yet they are still selling singles and records. The Beatles for example are one of the few bands whose music is not on ITunes due to contractual problems I often wonder if it’s because the Beatles are on Apple as well ;-0) Would you have guessed I’m a Beatles Fan.
British music is always going to be overshadowed by American however both sides have a Simon cowell who is changing the face of popular music with shows like American Idol, X Factor and Britain’s got Talent and who in my opinion not for the better either. However with things like the mercury music prize (except when they gave it to M people) it shows the rest of the world what we have to offer, with bands such as Snow Patrol, Coldplay and strangely Take That ;-) Although many American bands such as Kings of Leon
Kings of Leon – Use Somebody
, The Killers
The Killers Mr Brightside
The Scissor Sisters
The Scissor Sisters - I don’t feel like dancing
All came to the UK and the Buzz they got here gave them success in the US, the used the UK as a spring board what does this say about are market?

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