This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Labels & Publishers
UK labels’ secondary revenues continue to grow
By CMU Editorial | Published on Tuesday 3 August 2010
UK record companies again grew their so called ‘secondary revenues’ in 2009, which is no surprise really, but has been confirmed by record label trade body the BPI.
Secondary revenues are anything other than money generated through CD sales and digital music services, and include long established periphery income like broadcast royalties and newer revenue streams created by labels diversifying into other areas of the wider music business, such as merchandising. Said revenues were up 6.6% across the UK record industry in 2009, bringing in £193.5 million in total.
BPI boss Geoff Taylor: “UK record companies have responded to tough market conditions by innovating in the digital world and developing new revenue streams from recorded music, beyond their traditional base of CD sales and the encouraging growth in digital a la carte, subscription and streaming services. Music companies continue to face an enormous challenge from illegal downloading, but are responding positively by transforming themselves for the future, identifying new opportunities to generate returns from the massive investments they make – hundreds of millions of pounds per year – in UK talent”.
