Digital music revenues accounted for more than 50 per cent of the record industry’s turnover in Britain last year for the first time, according to the British Phonographic Industry (BPI).
An 11.9 per cent rise in digital revenues helped the industry to grow turnover for the first time in four years in 2013.
The trade association said Bad Blood, the debut album from Bastille, was the most downloaded album of the year, and “deluxe” versions of records such as Beyoncé’s latest release also helped to increase sales. Streaming revenues for services such as Spotify and Deezer leapt 41 per cent in the year.
A separate report from the analysts IHS Insight and App Annie found 20 per cent of all spending on digital entertainment in the UK went on music last year, a higher proportion than in any other country.
The BPI’s chief executive, Geoff Taylor, said: “With digital increasingly becoming its key source of revenue, Britain’s music industry is fit and ready to seize the global opportunities it offers.”