Jorja Smith at Glastonbury last summer: the entertainment industry has grown for seven years in a row TABATHA FIREMAN/ALAMYThe UK music streaming market has exceeded £1 billion for the first time, with the total spent on subscription services like Spotify and Apple Music more than 30 times higher than in 2010. Music fans spent 24 per cent more on subscription streaming services last year than in 2018 as the online shift speeds up. Digital services accounted for more than 80 per cent of the total spent on entertainment, figures published by the Entertainment Retailers Association show. The growth in music streaming offset a dramatic fall in the sale of physical formats and digital downloads. Sales of CDs, vinyl records and cassettes fell to £318.1 million, down by 17 per cent from £383.2 million in 2018, while downloads fell by more than a quarter.…

Source: The Times January 03, 2020 00:00 UTC