U.K. Digital Music Sales Outperform Physical Sales in First Quarter
This marks the first time in Britain that digital sales have overtaken and offset weak CD sales.
LONDON - Digital music sales in the U.K. were stronger than physical music sales in the first quarter, the first time that this has happened here, the Daily Telegraph reported.
Downloads and streaming music revenue accounted for 55.5 percent of total U.K. music revenue, according to trade group BPI.
Their 24.0 percent growth to £86.5 million helped offset a 15.1 percent decline in CD sales to £69.3 million ($106.5 million), leading to a 2.7 percent overall gain in the quarter to £155.8 million ($239.0 million).
The switch to digital dominance in Britain comes after U.S. digital music sales last year accounted for more than half of overall music spending. Releases from the likes of Adele have done well in terms of physical and digital sales alike.
BPI called the U.K. development in the opening quarter of 2012 a "significant milestone," but contained its excitement.
“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 U.K., especially in the fourth quarter,” said BPI CEO Geoff Taylor.
- Prince Takes Over the 'Arsenio Hall Show,' Debuts New Funky Song
- A Train, a Trestle and 60 Seconds to Escape: How 'Midnight Rider' Victim Sarah Jones Lost Her Life
- 'Divergent' Star Shailene Woodley: The Next Jennifer Lawrence?
- 'Noah' Banned in Several Middle Eastern Countries
- Lindsay Lohan's OWN Series Gets First Official Trailer (Video)
- MOST SHARED
- MOST POPULAR
- Russell Brand Says There's Only One Explanation For Philip Seymour Hoffman's Death (VIDEO)
- This Guy's Acapella Version Of Mike Tyson's 'Punch Out' Will Make You Nostalgic (VIDEO)
- Conan O'Brien Gives Body-Slam Filled Review Of The WWE 2K14 Video Game
- George Lopez Returns With 'Saint George' And Talks Diversity On Television (VIDEO)