LONDON (Hypebot) –
Figures released by UK record company trade organization BPI show that label revenues other than physical or digital sales increased 13.8% to £121.6 million in '07 from £106.9m in '06. These additional revenues now account for 11.4% of UK label income. 360 deals with newer artists helped grow additional income by 13.8% to £121.6m as these new business models begin to generate returns.
While new revenue streams are still in their developing stages. they provide hope for a beleaguered label sector. I was unable to find similar figures for the US. but suspect we're behind the UK particularly in 360 revenues.