UK digital music revenue has overtaken sales of physical formats such as CDs and records for the first time, reports the “BBC” (http://macte.ch/fYbPl).
According the British Phonographic Industry (BPI) digital accounted for 55.5% of the £155.8m spent on music in the UK in the first three months of this year. This boosted the record industry’s overall market value by 2.7% to £155.8m and helped to offset a decline in sales of CDs.
The BPI’s figures show income from digital sales has risen by nearly a quarter year-on-year to £86.5m. However, revenue from physical formats, such as CDs and vinyl dropped by 15% and now represents just £69.3m, notes the “BBC.”
