Digital pushes UK entertainment past £6bn barrier in 2015

Digital pushes UK entertainment past £6bn barrier in 2015

Digital pushes UK entertainment past £6bn barrier in 2015

Surging digital revenues pushed the UK’s combined games, video and music markets to an all-time high of £6.1bn in 2015, according to latest figures from the Entertainment Retailers Association.

Entertainment sales reached £6.04bn in 2004, but that peak was then followed by years of decline, hitting a low point of £5.2bn in 2012 in the face of the impact of the internet and the closure of High Street names like Woolworths, Our Price and Virgin.

These figures, however, suggest that substantial investment by new digital retailers and services is finally helping the industry turn the corner.

All three entertainment sectors registered growth last year with video up 1.5%, music up 3.5% and games up a striking 10%.

In video, digital revenues from services such as Netflix and Amazon Prime and Sky Store exceeded £1bn for the first time, making it almost certain that video will become a majority-digital business in 2016.

Overall, digital services, many of them developed by ERA members, now account for nearly 60% of entertainment revenues in the UK.

We welcome reader discussion and request that you please comment using an authentic name. Comments will appear on the live site as soon as they are approved by the moderator (within 24 hours). Spam, promotional and derogatory comments will not be approved

Post your comment

Facebook, Instagram and Sky case study: Game of Thrones

BT at IBC: 'unlocking the power of fibre IPTV'

IP&TV News tries out 4G Broadcast at the FA Cup Final

Thomas Riedl: “Google TV has evolved into Android TV”

Tesco and blinkbox: what went wrong?

Reed Hastings and 2030: is he right?