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Date posted:12 Jun 2012
Now it's time for some encouraging news that represents the exact opposite of every single sales story of the last few years- The boom in digital sales has resulted in those services representing 55.5% of all sales, leading to overall growth of 2.7% in the first quarter of this year.
Significantly, recorded music sales have improved, with revenues climbing to £155.8m despite the ongoing decline in physical formats, which dropped by 15.1 % in the same time period to £69.3m.
Unsurprisingly, ad-supported versions of streaming services such as Spotify also grew by 20% in comparison to Q1 of last year and sales of digital single tracks were overtaken by digital album sales, which jumped by 22.7% to £35.9m.
Lana Del Rey perched at the top of at the top of the digital tree with the best selling digital album of this year so far, followed closely by Emile Sande.
BPI Chief Executive Geoff Taylor said: "This is a significant milestone in the evolution of the music business. UK record labels have embraced digital to their core, supporting innovation and licensing more new online and mobile services than any other country. As a result, the industry's prospects for growth look brighter than for several years"
To see the top ten digital albums of Q1 go here.
In further news announced to coincide with Jubilee celebrations, more OCC stats can confirm that the top selling singles' artists from the last 60 years include... The Beatles, Elvis Presley, Cliff Richard and Madonna but omits hereditary Peer, Lord Barlow of Lancs.