Digital income now accounts for 50% of the UK record industry’s sales revenue, according to new research.
Digital music sales now account for half of the record industry’s income in the UK, according to the British Phonographic Industry (BPI).
A report by the music industry body found digital revenue has increased by 11.9% on the back of strong album downloads.
Streaming income increased by a massive 41% last year.
The changes mean the UK music industry has seen a 1.9% increase in its income – the first growth in four years for the recorded music industry – which stood at £730.4m last year, up from £716.8m in 2012.
Bastille’s debut Bad Blood – the biggest-selling digital album by an artist in 2013 – helped income from download albums grow by 19.5%.
Revenue from sales of CDs and music videos continued to decline, dropping by 6.4% to stand at £365.4m, although physical formats still account for half of UK record industry revenues.
BPI chief executive Geoff Taylor said: “With digital increasingly becoming its key source of revenue, Britain’s music industry is fit and ready to seize the global opportunities it offers.”
Tony Wadsworth, the BPI chairman, added: “After over a decade of digital transformation we are now seeing the transition of the recorded music business reach a significant milestone and a return to revenue growth.
“This was only ever going to happen if we give the consumer what they want, and the continual support given by artists and labels to new ways of enjoying music means that music fans can enjoy more choice and better value than at any time in history.”