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Digital sales account for more than a third of UK music revenues
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Digital music accounted for more than a third of the UK music industry's income for the first time last year, bringing in some GBP281.6m (USD441.4m), according to new figures from the BPI. While digital singles remain the biggest earner, generating GBP120.5m (USD188.8m) in 2011, digital albums saw strong growth, with revenues up 43% year on year to GBP117.8m (USD184.7m). Subscriptions to services experienced the biggest increase last year, with revenues from firms such as Spotify, we7 and Napster, now owned by Rhapsody, up 45.7% to GBP24m (USD37.6m). Although that growth will go some way to quell those sceptical of digital subscriptions' ability to bring in hard cash, that revenue figure still only accounts for 3% of the industry's overall revenues, which fell for the third year in a row to GBP795.4m (USD1.25bn), down from GBP828.8m (USD1.3bn) in 2010.
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