U.K. Music Sales Rise, Following Similar Data In U.S.
January 3, 2012 at 3:56 AM (PT)
Over the holidays (NET NEWS 12/28), ALL ACCESS reported that after consecutive years of sales declines, 2012 may just be the year that the record business sees an actual uptick in sales. REUTERS reported on SOUNDSCAN data that shows -- even with a couple days left in the year -- a 1% increase in album sales and over a 3% increase in overall music sales.
The same good news is true across the pond, says BLOOMBERG, which writes "Digital music album sales in the U.K. climbed 27% last year and singer ADELE's '21' set a new industry record, helping curb a slide in demand for CDs. The music industry, which suffered under the launch of free music-sharing services such as NAPSTER, is taking back some of the market with the help of paid-music services like APPLE INC.'s iTUNES and SPOTIFY LTD. Demand for digital albums grew faster than for singles last year, according to BPI."
"The most encouraging news is the strong backing consumers are giving to the digital album format," BPI CEO GEOFF TAYLOR said in the statement. "British music fans understand that the album remains the richest way to connect with an artist's work."