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Streaming booms as CD sales slump

Online music streaming in the UK has doubled in the past year and now accounts for at least 10% of record industry revenue, figures show.

However, the increase in terms of cash appears to have been at the expense of album sales, which saw an overall dip in 2013, mainly due to the decline in CD sales as people turn increasingly to digital listening.

Research by music trade body the BPI and the Official Charts Company shows 7.4 billion tracks were played on paid-for or ad-funded streaming services during the past year - twice as many as the 3.7bn in 2012.

It has been calculated about £103 million was brought in over the past 12 months by subscription services - up £26m on a year earlier. The total income generated by streaming will be much higher because the figure does not include cash from advertising on free streams and on services such as YouTube.

Album sales were worth £772m last year, down £29m on 2012. CD sales of 60.6m were down almost 13% on 2012, but still account for almost two-thirds of the album markets in the UK, while digital sales of 32.6m - up nearly 7% - now represent almost 35% of the total market.

The biggest selling album of 2012 was Now That's What I Call Music 86, selling 1.1m copies. The most streamed act was the Arctic Monkeys.

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