The BPI released its latest trade figures for the British music industry yesterday, revealing that total recorded music trade revenues fell 3.4% to £795.4m in 2011, although digital revenues grew by 24.7% to £281.6m – 35.4% of overall sales. The body says that digital growth is now offsetting two thirds of the decline in income from sales of physical recorded music. The BPI also hailed the performance of digital albums in 2011, with £117.8m in trade income, up 43.2% year-on-year, and set to overtake income from digital single tracks in 2012 if current trends continue. “It is highly encouraging for the long-term prospects of the industry that the pace of digital growth continues to accelerate,” says chief executive Geoff Taylor. The figures reveal that subscription-based digital music services generated £24m of trade income in 2011 – up 47.5% year-on-year, although only accounting for 3% of total sales. Ad-supported services’ revenues fell 1.4% to £10.7m for the year.
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…