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.
That means the industry is caught in the classic industry conundrum of swapping analogue dollars for digital pennies.
The ERA reckons (via release):
“Contributory factors included the decision by many music, video and games suppliers not to release key titles during the summer in order to avoid the Olympics, the fact the videogames business…
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