Spacelab - indie music news, music festivals, music videos and free mp3 downloads, music reviews for indie rock, alternative music and electronic music. Music tech you can use.
 
 
  MUSIC NEWS     MUSIC TECH NEWS     MUSIC FESTIVAL NEWS     STREAMING MUSIC GUIDE     NEWS ARCHIVE
 
 
 
 
 
     
British Music Sales Up, Up, Up
 
Bookmark and Share
 
By: Spacelab Research Staff
April 29, 2010
 

The British music industry is seeing a slow but steady increase in digital revenue, according to a report from the British Phonographic Industry.

Online streaming and paid downloads revenue increased from £127.8 million in 2008 to £188.9 in 2009. That's a jump of almost 50% in digital income.

The British Phonographic Industry report said digital music sales now make up 20% of all music revenue.

Ad supported services like Spotify, we7, Last.fm and YouTube grew their contribution to industry income by 247% to £8.2m. This looks to be a big part of the future.

Some music industry leaders still think that's not good enough, looking back to the good ole days when the big labels owned the game and everybody was buying their high-priced CDs.

“But let’s put it in broader perspective:  2009’s modest result follows a five-year drop in annual income, and total industry income has not exceeded £1bn since 2006.  The CD continues to show greater resilience than many predicted – it is an excellent digital product. The pace of growth of new digital services is encouraging, but the size of the market continues to be constrained by competition from illegal downloads,”  said Geoff Taylor, BPI's Chief Executive.

 

Tags: British Phonographic Industry

 
 
Click here to subscribe Jack in to the RSS feed for Spacelab headlines