ABC Money
Home

Music downloads cross 10 million mark in UK

LONDON: Music downloads are gaining remarkable popularity in Britain. There have been more than 10 million legal downloads so far this year, against a recorded 5.7 million in the whole of 2004, according to the British Phonographic Industry (BPI).

Published :
Wed, 13 Jul 2005 08:05
By : Cedric Benson
Print this Story


AddThis Social Bookmark Button

LONDON: Music downloads are gaining remarkable popularity in Britain. There have been more than 10 million legal downloads so far this year, against a recorded 5.7 million in the whole of 2004, according to the British Phonographic Industry (BPI).

Industry watchers attribute the phenomenal increase to the action taken against illegal file-sharing sites late last year and the launch of several legal music sites and online stores like Apple's iTunes and Napster.

BPI, the representative organisation in Britain, described the figure as a milestone and said tracks legally downloaded were higher in number than physical sale of singles for the first time in the last week of December 2004.

BPI's chairman Peter Jamieson said the industry has accepted the legal download service and its rewards are now being felt. "The battle against illegal filesharing will continue, but we are delighted to have hit this milestone so soon."

There were 659,377 digital single track downloads between April and June 2004 and 5,562,638 during the same period this year.

However, sales of CD singles continued to decline, by 23 per cent this year, from 5,721,873 between April and June 2004 to 4,408,453 during the same period this year. Artist albums sale went up by 2.2 per cent to 25,137,810 during April to June this year.

The 7-inch vinyl single recorded 87.3 per cent increase in the quarter, compared with last year, while the annual sales are expected to touch 1.4 million units, the best sales figure since 1998.

For the year ended March 2005, the best-selling 7-inch single is a limited edition reissue of Iron Maiden's Number of the Beast. Other titles that dominated the format are Libertines, Babyshambles, Kaiser Chiefs and Franz Ferdinand.

Jamieson said, "Despite the incredible growth in download sales, there is still a huge demand for the collectible physical formats -- it would be wrong to write them off just yet. Record companies are committed to meeting consumer demand in whatever format people want their music."

The year 2004 also saw British music score in the U.S. Some 75 albums achieved the 100,000-sales mark, compared with 66 in 2003.

Earlier, Coldplay's third album X&Y entered at No 1 with first-week sales of 739,000. Its third studio album was the first British album to simultaneously top both the U.S. and U.K. charts since the Beatles 1 collection in 2000.

Said Jamieson: "We have not seen anything like it for a decade. From Coldplay to Oasis, Dido to Gorillaz, Lostprophets to Franz Ferdinand, British music is on the march.

"Music is still one of the U.K.'s great exports. We are by far the biggest exporter of music outside the U.S. We export many times more music to the U.S. than the rest of Europe put together."


Share on



Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10467.16
-30.72 ( -0.29 %)
NASDAQ
2251.69
-12.87 ( -0.56 %)
FTSE 100
5313.95
-5.73 ( -0.11 %)

SYMBOL ( 2010-07-29 )
LAST
CHANGE
ASTRAZENECA ( 11:35am )
3289.00
+86.49 ( 2.58 %)
KAZAKHMYS ( 11:37am )
1220.00
+23.00 ( 1.91 %)
LONMIN ( 11:35am )
1580.00
+21.00 ( 1.35 %)
SHIRE ( 11:35am )
1490.00
+21.00 ( 1.43 %)
REED ELSEVIER ( 11:35am )
552.00
+20.00 ( 3.70 %)

SYMBOL ( 2010-07-29 )
LAST
CHANGE
MERCK CO INC ( 4:01pm )
35.06
+0.32 ( 0.91 %)
DUPONT ( 4:00pm )
40.51
+0.24 ( 0.59 %)
COCA COLA CO ( 4:00pm )
54.99
+0.11 ( 0.20 %)
GEN ELECTRIC CO ( 4:00pm )
16.15
+0.10 ( 0.62 %)
PFIZER INC ( 4:01pm )
15.09
+0.09 ( 0.59 %)

SYMBOL ( 2010-07-29 )
LAST
CHANGE
CITRIX SYSTEMS ( 4:00pm )
56.67
+9.34 ( 17.62 %)
MWI VETERINARY SUPPL ( 4:00pm )
54.13
+6.25 ( 12.12 %)
MITSUI & CO LTD ( 3:15pm )
264.84
+6.14 ( 2.38 %)
EQUINIX INC ( 4:00pm )
93.82
+5.76 ( 6.31 %)
ITRON INC ( 4:00pm )
62.86
+4.98 ( 7.87 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 ABCmoney.co.uk, All Rights Reserved
*ABCMoney.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.