UK recorded music still in decline
26 March 2013
UK recorded music retail sales fell 8% in 2012 to £1 billion, as CD sales fell 21% to £540 million whilst digital formats rose 15% to £484 million on a huge 70% climb in subscriptions.
HMV store closures in 2013 will further dent CD sales, but accelerate the point of inflection (at least 50% digital sales) of the UK’s retail market.
The UK remains a robust source of royalties from performance of sound recordings, with PPL reporting revenues in 2011 of £153.5 million, up 7%.