British Retail Group Points to Music as Entertainment’s Fastest-Growing Sector

Music revenues in the U.K. grew by 4.6 percent in 2016 — driving music, video and games sales to an all-time high of £6.3 billion ($7.8 billion), according to annual figures from the Entertainment Retailers Association (ERA). In line with figures released earlier this week by labels trade body BPI, increased take-up of streaming subscription services was a key factor in boosting revenues, with streaming sales totaling £418 million ($514 million) in 2016, up 65 percent on last year when streaming generated just over £250 million ($307 million).

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