Tuesday, March 16, 2010

Digital Growth Offsets CD Decline for the First Time in the UK

For the first time in the UK, growth in digital music sales in 2009Check Spelling offset the decline in CD sales. As platforms such as Spotify, Amazon, iTunes, and MySpace Music expanded, digital revenue grew 73% (£12.8m to £30.4m) in 2009. This is in comparison to to an £8.7m drop in physical revenues throughout the year.

Robert Ashcroft, CEO of PRS For Music (UK collection society), explains, "Last year was the first in which the growth in revenues from the legal digital market compensated for the decline in revenues from traditional CDs and DVDs, although we remain cautious as to whether this represents a true turning point." He elaborates, "The next decade does, however, promise further growth in earnings from the legal digital market as well as the use of British music overseas."

This sounds like great news for digital music, and hopefully these figures will soon transfer to the U.S. as well. The only thing is..are these digital sales translating to money for the artist or is most of it going to the platforms like Spotify? I'm not sure, but either way if this data continues to remain true and sales continue to grow throughout 2010, this could be a cause for celebration for artists and their record labels.

- Samantha Bruno


No comments:

Post a Comment