Wednesday, January 07, 2009

Digital Boom 
Music Sales 
Record Levels

Looks like Digital will not kill the recording star after all. 

From AFP:

LONDON (AFP) – British music sales are booming as young fans increasingly buy songs online rather than illegally downloading them, the country's industry body said Wednesday.

The BPI, formerly known as the British Phonographic Industry, said big-selling releases by artists including Leona LewisColdplay, the Killers and Take That also helped drive sales to record levels last year.

The industry has struggled in recent years to adapt to rapidly changing technologies, and has been hit hard by illegal downloading of music via peer-to-peer (P2P) file-sharing websites.

But download sales grew by 33 percent last year, while 2008 was the biggest sales year on record in terms of singles sales in all formats, with 115 million single tracks sold.

While downloads of single tracks have soared, the market for albums has also been helped by growing online sales: some 10 million albums were sold, a 65 percent increase on 2007.

Kim Bayley, head of the Entertainment Retailers Association, said traditional high street music sales were also holding up. "Music performed better in UK stores in 2008 than anyone had expected.