*UK retail spending on digital music in excess of ?1,014m since launch in 2004.
*Adele’s 21 is the UK’s biggest selling digital album of all time.
*Average retail price of an album now ?7.32 – down by a third in the last decade.
Related Post
*Nearly one in five people made at least one digital music purchase in 2010.
MUMBAI: BPI Annual Yearbook 2011 reported that UK consumers have spent more than ?1bn on music downloads since the launch of legal digital music services in 2004. Adele’s â€?21′ became the UK’s biggest selling digital album followed by Lady Gaga’s â€?The Fame’ and Kings of Leon’s â€?Only By The Night’ into top slot since its release in January 2011.
According to the reports, the retail spending on digital albums has increased by 23% to ?146m in 2010, with more than 56.5m digital albums sold since the format launched in 2006 In 2010, 21.0m digital albums were sold accounting for 17.5% – one in six – of all albums sold in the UK. 34 albums have sold more than 100,000 copies digitally, with 6 of the top 10 represented by UK artists.
UK consumers spent ?132m on digital single tracks an increase of 12% since last year Total 158.6m single tracks were sold digitally in 2010, with more than 579.4m sold since the first legal music stores opened for business in 2004. 74 digital tracks have sold more than 500,000 copies in the UK to date representing 98.7% of all singles sales. The UK’s top-three selling digital tracks since 2004 are I Gotta Feeling by Black Eyed Peas, Sex On Fire by Kings Of Leon and Poker Face by Lady Gaga.
BPI chief executive Geoff Taylor said, British music fans enjoy the worlds most competitive and innovative digital music scene, propelling all-time sales of digital singles and albums past the ?1bn mark The strength of British music means there is fantastic potential for further growth. The hard work done by UK record labels in pushing forward the digital music market are paying off for consumers, digital retailers and the music community….
The BPI stated the rise of cheaper digital music downloads has led to the cost of an album – physical and digital – falling by a third in the past decade to ?7.32. Overall, the average retail price of albums has decreased ?3.45, a 32% decrease in the last ten years.
As a whole, 58.5% of music buyers bought physical formats in 2010, down from 65.8% in 2009, compared to 17.2% buying exclusively digital music – up from 12.4% in 2009 Nearly a quarter (24.3%) of music consumers mixed and matched their formats, buying both physical and digital formats.
