Digital music now accounts for 35 per cent of the UK music industry's income
The income from albums sold digitally rose by over 43 per cent in 2011, generating over £117 million for the UK music industry.
Digital album sales revenue had totalled £82 million for the whole of 2010, but shot up by over £35 million in 2011, according to new figures published today (February 16) by the BPI.
Revenue from the sale of digital singles was also up by 11 per cent, meaning labels raked in £120 million in 2011, compared to £108 million in 2010.
The sale of digital music now accounts for over 35 per cent of the UK music industry’s total income, compared to just 24 per cent in 2010. It was also boosted by an increase in income from premium streaming services like Spotify and We7, which contributed £24 million during 2011.
Geoff Taylor, BPI Chief Executive said of the new figures: “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.”
He continued: “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.”