Downloads outsell physical music products for the first time in the UK
In the first quarter of 2012, downloads outsold physical music products for the first time in the UK. Downloads, streaming services and other digital services accounted for 55.5% of recorded music sales. CD sales continue to decline but subscription streaming platforms have almost doubled their income.
The BPI says that overall digital products made £86.5 million for the British record industry in the first quarter of 2012, with physical sales taking overall recorded music revenues to £155.8 million, which is 2.7% up on the same quarter last year. Take note of this; it will not be mentioned when they’re next moaning like whiney little bitches about ‘piracy’ killing the music industry. By the music industry, they only mean the big four labels and their ‘independent’ de facto A&R labels.
BPI boss Geoff Taylor said: ‘This is a significant milestone in the evolution of the music business. UK record labels have embraced digital to their core, supporting innovation and licensing more new online and mobile services than any other country. As a result, the industry’s prospects for growth look brighter than for several years’.
He added: ‘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. However, the creativity, investment and digital expertise of the British music industry point the way forward for growth in the UK economy‘.
By ‘embraced digital to their core, supporting innovation’, he, of course, means ‘resisted digital all the way while blaming piracy for lower CD sales’ and by ‘supporting innovation’ means ‘opposing innovation with every ounce of their strength’.
However, the future happens whether you like it or not and they have unwittingly started to see some benefit from it.