UK music lovers have helped increase sales of technology by £11bn between 2008 and 2012, a new report has claimed.
According to BPI research, the total figure is spread across £8.4bn for smartphones, £2.5bn for tablets, £384m for MP3 players and £74m for connected hi-fis.
The study calculated that for every one percent increase in demand for music equates to a 1.4 percent rise in the sales of smartphones.
Commenting, the BPI’s Geoff Taylor said: ‘It is well-known that recorded music is one of the UK’s most successful exports, but this study demonstrates that Britain’s love of it also boosts oureconomy by generating billions of pounds a year in additional consumer technology sales.
‘The relationship between music and tech is symbiotic. Record labels work hand-in-hand with technology companies every day to create fantastic digital music experiences for fans.’
Further findings from the research found that the UK spends 23 percent more per capita on music than the average of the G7 nations.
According to BPI research, the total figure is spread across £8.4bn for smartphones, £2.5bn for tablets, £384m for MP3 players and £74m for connected hi-fis.
The study calculated that for every one percent increase in demand for music equates to a 1.4 percent rise in the sales of smartphones.
Commenting, the BPI’s Geoff Taylor said: ‘It is well-known that recorded music is one of the UK’s most successful exports, but this study demonstrates that Britain’s love of it also boosts oureconomy by generating billions of pounds a year in additional consumer technology sales.
‘The relationship between music and tech is symbiotic. Record labels work hand-in-hand with technology companies every day to create fantastic digital music experiences for fans.’
Further findings from the research found that the UK spends 23 percent more per capita on music than the average of the G7 nations.
