Figures released in Britain show that UK residents are now streaming twice as much music through online streaming outlets as they were 12 months ago. The doubling in users is reportedly due in large part to the continued dissemination of handheld media such as smartphones and tablets.
The British Phonographic Industry (BPI) have unveiled their 2013 figures, which shows the overall retail value of albums, singles, and audio streaming decreasing 0.5 percent to AU$1,945 million, with album sales dropping 6.4 percent, for which a 12.8 percent drop in CD sales is largely responsible.
However while CD sales appear to be dropping, their sale still accounts for almost two thirds (64 percent) of all albums sold in the UK. The increase in streamed music meanwhile has pushed revenue above £1 billion, with streaming subscriptions taking in AU$192 million for the year.
Speaking on the significant boost in digital music, BPI Chief Executive Geoff Taylor said:
“The success of digital music in 2013 surpassed all previous records – we celebrated the one billionth track download, counted four million-selling digital singles, and streamed more than 7 billion songs. As digital music moves into the streaming era, the prospects for future growth in the UK music market look strong.”
Other interesting tidbits shown by the figures include Arctic Monkeys as 2013’s most-streamed artist and the continued resurgence of vinyl, with sales up to 780,000 during 2013 (0.8 percent of album sales total)––a 100.8 percent increase from 2012 and the highest sales figure in 15 years.