UK entertainment retail spend hits £100m a week
Entertainment retail spend in the UK topped more than £100 million a week in the first half of 2019, according to the latest figures from the Entertainment Retailers Association (ERA).
Digital music, video and gaming spend via streaming services, downloads and gaming credit n the UK totalled £2.7 billion in the first six months of the year.
The combined music, video and games sectors, including spend on physical formats like CDs and DVDs grew 4.5 per cent year-on-year to £3.3 billion over the same period.
|ENTERTAINMENT RETAIL CONSUMER SPEND H1 2019|
|CONSUMER SPEND £ (m)||H1 2018||H1 2019||% change|
|Digital (inc streaming)||£2,519.0||£2,764.7||9.8%|
Music grew 9.9 per cent, representing the fastest growing sector, largely driven by the continually strong adoption of subscription services like Spotify and Apple Music.
Spend on music streaming services grew 25.8 per cent over the period, representing a total spend of £485.9 million.
Meanwhile video streaming spend grew 18 per cent, leading to an overall growth of 6.4 per cent to £1.07 billion in the category despite a continuing drop in physical DVD and Blu-ray sales.
Video games saw a meagre one per cent spending growth to £1.56 billion, but maintained its position as the biggest of the three sectors by some margin.
“With January-June historically the quietest half of the year, this is another great result for entertainment,” ERA chief executive Kim Bayley said.
“Digital services and physical retailers alike continue to innovate to expand the market for music, video and games.”