Facebook R&B crooner Mario has been relatively quiet on the music front for…
- Posted on Apr 27th 2010 6:30AM by Chris Mugan
Figures from trade body the British Phonographic Industry show record labels enjoyed growth from £916m ($1,404m) to £929m ($1.423m) last year, the first time money income from digital sales, including subscriptions and ad revenue from ventures such as Spotify, has outweighed declining CD sales.
Income from downloads of singles and albums grew by 53 per cent to £154m ($236m), while sales of physical formats dropped six per cent to £740m ($1.134m). Not that 2009 was a particularly halcyon year in terms of taste.
There were some Beatles reissues to buoy the market, but the big money came from the likes of Susan Boyle. The 'Britain's Got Talent' finalist's 'I Dreamed A Dream' became the fastest selling debut album ever and Take That's DVD 'The Circus Live' accounted for 16 per cent of sales in that format.
But despite the upswing in sales, the BPI is still downbeat about its prospects. In a statement, chief executive Geoff Taylor pointed out the "modest result" followed a five-year drop in income. "This is testament to continuing investment by UK labels in talented artists despite challenging economic conditions," he said. He added that digital growth "continues to be constrained by competition from illegal downloads."