Sales of recorded music still falling, latest figures show

The success of acts like Adele and Coldplay was not enough to reverse a fall in revenue from recorded music in 2015, industry figures show.
One out of every six albums sold around the world was by a British artist, but the money generated for the UK economy dropped from £615 million in 2014 to £610 million.
The value of live music also fell from £924 million to £910 million, UK Music said.
However, the total contribution of the UK music business to the British economy remained static, at £4.1 billion.
Money earned through publishing and licensing songs to films and advertisements helped make up the shortfall; while the money earned by British producers and recording studios rose from £116 million to £119 million.
Overall, music industry revenues grew just 0.5 percent in 2015, falling behind GDP growth.
However, UK Music said the business was “strong” and “resilient,” having recorded growth of 17 percent since 2012, outpacing the economy as a whole.
“There is every sign that the recorded sector will return to growth in 2016,” said chairman Andy Heath, pointing to the continued success of Adele’s album, as well as increased vinyl sales and higher revenues from streaming services.

Source: Arab News