Digital Growth Offsets CD Decline First Time In UK
Digital revenues grew 73% (£12.8m) to £30.4m in 2009 as platforms such as Spotify, MySpace Music, Amazon and iTunes expanded. That compared to an £8.7m drop in physical revenues through the year. Total revenues grew 2.6%.
“Last year was the first in which the growth in revenues from the legal digital market compensated for the decline in revenues from traditional CDs and DVDs, although we remain cautious as to whether this represents a true turning point. said Robert Ashcroft, CEO of PRS. "The next decade does, however, promise further growth in earnings from the legal digital market as well as the use of British music overseas."