Digital boom couldn’t stop 2012 entertainment slump in UK:
The good news: digital formats now make up a quarter of UK entertainment sales thanks to 2012 growth. The bad: ongoing physical decline on the high-street means overall sales are shrinking.
Originally posted on paidContent:
Revenue from digital-format sales of music, videos and games jumped 11.4 percent through 2012 to pass the £1 billion ($1.6 billion) mark in the UK.
According to the country’s Entertainment Retailers Association, digital sales reached £1.033 billion, making up more than a quarter of the cross-format total – five percent more than a year ago.
But the association’s headline announcement of digital growth masks what is, in fact, a worrying pattern. Across the formats, UK entertainment retailers shed 12 percent in sales last year, as revenue from music, video and games each dipped.