UK consumers spent over £2.7 billion on entertainment streaming services, downloads and gaming credits in the first half of 2019, new research shows. According to statistics released by the Entertainment Retailers Association (ERA), this equates to more than £100 million spent per week on digital music, video and games. The study found that the overall market grew 4.5% to £3.3 billion year on year when adding in expenditure on physical formats such as CD and DVD and retail revenues from music, video and games sectors.
ERA CEO, Kim Bayley, said the first six months of the year are historically the quietest half of the calendar, prompting her to describe the growth figures as “another great result for entertainment. Digital services and physical retailers alike continue to innovate to expand the market for music, video and games.” she explained.
ERA figures show recorded music was the fastest growing sector with an increase of 9.9% in sales compared to the same period in 2018. Music’s growth was driven by continuing strong adoption of subscription streaming services from the likes of Spotify, Apple Music, Amazon, Deezer and YouTube Music, the association added.
Consumers reportedly spent £485.9 million on subscription streaming in the first half of 2019, 25.8% more than in the same period last year. Expenditure on video grew by 6.4% in the first half of 2019 to £1.07 billion, with digital revenue up by 18% over the period. Revenues in video games were up by 1% to £1.56 billion, although games accounted for nearly half of the combined music, video and games markets.