Music, video and games shrugged off a period of decline in the UK as revenues surged to £6.1 billion in 2015, given a boost from the likes of Netflix and Amazon, says ERA, the industries’ trade association.
ERA research found 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 10%. In each sector, digital services were driving the growth.
In video, digital revenues from services such as Netflix and Amazon Prime and Sky Store exceeded £1 billion for the first time, making it almost certain ERA predicted, that video will become a majority-digital business in 2016.
“Ten years ago the entertainment business was on the edge of a precipice. Piracy was rampant and there were few legal alternatives,” said ERA CEO Kim Bayley. “Thanks to huge investments by the likes of Apple and Steam and Netflix and Spotify, there has been a significant turnaround. From indie record stores to video-on-demand, from High Street chains to streaming services, Internet retail and supermarkets, there has never been such a wide variety of ways for people to get the music, video and games they want."
In video, digital revenues from services such as Netflix and Amazon Prime and Sky Store exceeded £1 billion for the first time, making it almost certain ERA predicted, that video will become a majority-digital business in 2016.
“Ten years ago the entertainment business was on the edge of a precipice. Piracy was rampant and there were few legal alternatives,” said ERA CEO Kim Bayley. “Thanks to huge investments by the likes of Apple and Steam and Netflix and Spotify, there has been a significant turnaround. From indie record stores to video-on-demand, from High Street chains to streaming services, Internet retail and supermarkets, there has never been such a wide variety of ways for people to get the music, video and games they want."
