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Business News (more headlines) 02-10-2013

UK Music Sales Leap 11.6% In First Four Weeks Of 2013

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Sales of music have been higher in each of the first four weeks of 2013 than in the corresponding weeks of 2012, according to an analysis of Official Charts Company data released today by the Entertainment Retailers Association (ERA).

The result is that year-to-date sales are up 11.6% on the corresponding period last year, the best start to the year for at least three years.

The positive sales figures follow a tough 2012 during which music sales fell 5.5% compared with the previous year.

ERA Director General Kim Bayley said, "This is an extremely positive result and a great start to the year. It certainly demonstrates that there is far more robust demand for music than is often assumed."

One factor in the rebound of music sales may well be the public support for HMV since it announced it was going into administration on January 15.

Said Bayley, "There has been a significant public reaction to the threat to HMV. Stores have been inundated with customers concerned that they may lose their local store and this appears to have translated into sales."

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