KMR -
15.03.10 07:50
The British music industry enjoyed some rare good news yesterday when it was revealed that the growth in digital music royalties had outpaced falling CD sales for the first time last year.
Royalties generated by online music sales grew by 72.7 per cent last year to £30.4 million, as increasing numbers of consumers downloaded music from sites such as Apple’s iTunes. About 16.1 million albums were downloaded in 2009, up 56.1 per cent on the previous year.
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Growth in online music sales outpaces falling CD sales in UK
quod erat demonstrandum
Robert Ashcroft, chief executive of PRS, said: “2009 was the first year in which the growth in revenues from the legal digital market compensated for the decline in revenues from traditional CDs and DVDs, though we remain cautious as to whether this represents a true turning point.