From: The Telegraph
Date: 03/08/10
The hard-pressed music industry has been forced to look beyond CD and MP3 track sales in order to shore up sales. British record labels collected a record £193.5m in so-called "secondary revenues", which covers income from gigs and concerts to merchandise and film, TV and advertising rights, in 2009.
The BPI, the industry body which released the figures yesterday, said income from outside traditional music sales was up 6.6pc compared to 2008.
Secondary revenues accounted for almost one-fifth of record companies total sales of £1.12m last year.
Geoff Taylor, chief executive of the BPI, said: "UK record companies have responded to tough market conditions by innovating in the digital world and developing new revenue streams from recorded music, beyond their traditional base of CD sales and the encouraging growth in digital a la carte, subscription and streaming services.
"Music companies continue to face an enormous challenge from illegal downloading, but are responding positively by transforming themselves for the future, identifying new opportunities to generate returns from the massive investments they make - hundreds of millions of pounds per year - in UK talent."
Rupert Neate
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