Netflix and Spotify help drive UK home entertainment revenues to £5.3bn

New figures show that three-fifths of Britain's video, video games and music sales are now derived from the internetGrowing demand for streaming services such as Netflix and Spotify helped the UK home entertainment sector increase its revenues in 2013 for the first time in five years to £5.3bn, according to new figures.Sales of video, video games and music jumped 4% year on year in the UK from £5.1bn to £5.3bn in 2013, marking the first growth in the home entertainment sector since 2008, according to figures published on Wednesday by the Entertainment Retailers Association (ERA).Internet-derived sales – which includes home delivery, digital download, streaming and other access services – were up 13.9% year-on-year to £3.18bn or 60% of the total UK home entertainment market.The fastest-growing sector across the online home entertainment market was video-on-demand subscription, including Netflix and Amazon-owned LoveFilm, which was up 120% on the year.Music streaming services, including Spotify and Deezer, were up 34% on the year.Sales of physical products from high street stores continued to decline, down 8% compared with 2012 and accounting for 40% of the market, or £2.12bn.Broken down by sector, sales of video were £2.05bn, up 3.7% on the year; video games were £2.2bn, up 6.6%; and music was down 0.5% to £1.05bn, according to the ERA.Home entertainment retailers have struggled in the face of online competition, with HMV closing 66 of its high street stores.In contrast,... Continue reading at 'The Guardian'

[ The Guardian | 2014-03-12 00:00:00 UTC ]
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