UK digital music spending overtakes physical sales for first time
It’s a landmark day or the British music business, as the British Phonographic Industry has just announced that, for the first time ever, digital downloads and streaming have overtaken the sales of CDs, tapes and vinyl in the UK.
55.5% of the music biz’s income for the first quarter of the year came from digital sources, collating music downloads as well as both subscription-based and ad-funded streaming services. That’s £86.5 million for the quarter, a jump of 25%.
It’s good to see streaming subscriptions starting to turn in significant figures, with income from subscription sources like Spotify doubling over the course of the year. But that’s not to say physical sales have breathed their last just yet.
As BPI chief executive Geoff Taylor points out:
“We will need to see this trend repeated for several quarters to say we have turned the corner – demand for physical CDs remains strong in the UK, especially in Q4.”
For more info on the shifting trend, visit the BPI website.
