LONDON: In the U.K., digital revenues from services such as Netflix, Amazon Prime and Sky Store exceeded \u00a31 billion ($1.5 billion) for the first time, making it “almost certain” that video will become a majority digital business in 2016, according to the Entertainment Retailers Association (ERA).<\/p>\n
The U.K.’s combined games, video and music markets reached an all-time high of \u00a36.1 billion ($8.9 billion) in 2015, after a decade of decline, according to the latest figures from the ERA based on data from the Official Charts Company (music, video) and GfK Chart-track (video games). Digital services now account for nearly 60 percent of entertainment revenues in the U.K.<\/p>\n
ERA CEO Kim Bayley said, “Ten years ago the entertainment business was on the edge of a precipice. Piracy was rampant and there were few legal alternatives. 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.”<\/p>\n
Total U.K. video revenues for 2015 came to \u00a32.24 billion ($3.3 billion), up 1.5 percent year-on-year, according to figures compiled by IHS on behalf of the British Video Association. Within this, digital video accounted for \u00a31.085 billion ($1.59 billion), physical retail for \u00a31.075 billion ($1.57 billion) and physical rental for \u00a376.9 million ($112.5 million).<\/p>\n
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LONDON: In the U.K., digital revenues from services such as Netflix, Amazon Prime and Sky Store exceeded \u00a31 billion ($1.5 billion) for the first time, making it “almost certain” that video will become a majority digital business in 2016, according to the Entertainment Retailers Association (ERA). The U.K.’s combined games, video and music markets reached …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69],"tags":[143,145,142,144],"class_list":["post-6378","post","type-post","status-publish","format-standard","","category-top-stories","tag-amazon-prime","tag-entertainment-retailers-association","tag-netflix","tag-sky-store"],"yoast_head":"\n