Sales of download albums soared last year with digital music now making up a third of total revenues, the BPI has confirmed.
The trade body found that record revenues were resilient in 2011 despite challenging economic conditions, with income from digital music increasing by 24.7 percent to £281.6m.
Digital albums generated £117.8m in trade income, up 43.2 percent on 2010’s year-end result of £82.2m. The growth in digital now offsets two-thirds of the decline in income from sales of physical music, as consumers buy fewer CDs and DVDs.
Total digital music income – earnings from online downloads, subscriptions, ad-supported services and mobile – now accounts for 35.4 percent of UK recorded music turnover, up from 27.4 percent in 2010.
Geoff Taylor, BPI Chief Executive, said: ‘It is highly encouraging for the long term prospects of the industry that the pace of digital growth continues to accelerate. British labels are supporting a wide range of innovative music services and music fans are embracing digital like never before.
‘The record industry has continued to invest heavily in discovering and supporting outstanding British talent, which has helped sustain revenues in the face of difficult economic circumstances.’
The trade body found that record revenues were resilient in 2011 despite challenging economic conditions, with income from digital music increasing by 24.7 percent to £281.6m.
Digital albums generated £117.8m in trade income, up 43.2 percent on 2010’s year-end result of £82.2m. The growth in digital now offsets two-thirds of the decline in income from sales of physical music, as consumers buy fewer CDs and DVDs.
Total digital music income – earnings from online downloads, subscriptions, ad-supported services and mobile – now accounts for 35.4 percent of UK recorded music turnover, up from 27.4 percent in 2010.
Geoff Taylor, BPI Chief Executive, said: ‘It is highly encouraging for the long term prospects of the industry that the pace of digital growth continues to accelerate. British labels are supporting a wide range of innovative music services and music fans are embracing digital like never before.
‘The record industry has continued to invest heavily in discovering and supporting outstanding British talent, which has helped sustain revenues in the face of difficult economic circumstances.’
