British Music Biz Shows Some Strength
January 7, 2009 at 6:34 AM (PT)
BRITISH retailers sold a record combined number of DVDs, games and music in 2008 despite the economic gloom, boosted by the popularity of NINTENDO's Wii and single downloads, trade bodies told REUTERS on WEDNESDAY. The ENTERTAINMENT RETAILERS ASSOCIATION (ERA) said its members sold more DVDs, games and music combined than ever before, up 4% on 2007 to a total of 485.8 million units.
Music, which has been hit hard in recent years due to Internet piracy and the move from physical sales to online, was surprisingly strong, boosted by a 33% rise in the sale of singles, according to the ERA. The growth in the singles market was largely down to the strong sales of music downloads.
The BPI, which represents the BRITISH recorded music business, also released 2008 sales figures showing that the strong release schedule and expanding digital retail sector had helped the music market exceed expectations.
For the year, the albums market fell a smaller-than-expected 3.2%, with the fall in physical albums partially offset by the 65% rise in digital albums sold. That gave the digital format a 7.7% share of the album market.