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The BPI logged a record 46 million albums sold in the second quarter, driving an 18% jump in revenues and a 12% rise for the first half of the year.
Tuesday, August 7, 2001

PIP PIP CHEERIO: BRITISH
2Q MUSIC SALES UP

British Phonographic Industry Promises Industrywide Teeth-Straightening With The Windfall
Tea and crumpets all around. At least the U.K. record biz is growing.

British music sales saw a record rise in the traditionally quiet second quarter, the British Phonographic Industry reported.

The BPI logged a record 46 million albums sold in the second quarter, driving an 18% jump in revenues and a 12% rise for the first half of the year. Best-selling albums from Destiny’s Child, R.E.M. and Shaggy helped fuel the increase. British consumers continued to snub singles and cassettes in favor of CDs, with CDs making up almost 98% of total sales.

While album volume fell more than 5% in the U.S., the British industry as a whole notched a 14% rise in sales, to just over 254 million pounds ($360 million in real dollars). Single sales dropped 10% and cassettes plummeted 70%. Of course, you still can't get a decent meal in London.

 
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