LONDON (CelebrityAccess MediaWire) — The record industry is betting that the Brit Awards, held Wednesday night in the UK will help to drive sales and lead to additional profits and sales for the artists who garnered recognition.
According to figures released yesterday and reported on by UK newspaper The Guardian, last year's Brit awards which were broadcast for the first time since 1989, helped to bolster sales by as much as %25 in the following 6 weeks.
On average, nominees and winners saw a sales bump of an astonishing 82% with nine artists, including Snow Patrol, Oasis and the Killers among others seeing their sales more than double. Even more salient, the big winners in 2007, The Arctic Monkeys and Take That outperformed the market by a ratio of 9:1 the Guardian reported.
Any iota of news about increased sales should be taken as a boon by the recording industry which has been stumbling under the burden of declining physical album sales and an apparent inability to find a viable new business model. Last year saw a decline in sales of more than 10% and while digital sales are growing, they have thus far been unable to match the lost revenue of physical albums. – CelebrityAccess Staff Writers