UK music trade revenue rises in 2009

The total income from recorded music trade in the UK rose 1.4% last year to £928.8 million.

According to new figures from the British Phonographic Industry (BPI), revenues from physical formats fell by 6.1% to £739.9m, while digital income rose 47.8% to £188.9m.

BPI chief executive Geoff Taylor said: "It's encouraging to see industry revenues stabilise and even show modest growth in 2009.

"This is testament to continuing investment by UK labels in talented artists despite challenging economic conditions, and the innovation labels have shown in licensing new digital services."

However, Taylor sought to put the figures into "broader perspective" and noted a five-year drop in annual income prior to 2009.

"The CD continues to show greater resilience than many predicted - it is an excellent digital product," he added. "The pace of growth of new digital services is encouraging, but the size of the market continues to be constrained by competition from illegal downloads."

The BPI has long complained about internet piracy and supported the controversial digital economy bill which was forced through the Commons in the "wash up" period at the end of the current government.

Despite industry protests regarding illegal downloading, figures from last year showed that sales of singles had already surpassed their highest ever annual figure before the end of October.