Thursday, 2 October 2014
Music spurs tech growth
A new BPI study suggests that Britain's desire for music has lead to increased sales of consumer technology products - calculating that music created £11 billion of additional revenue for the tech industries between 2008 and 2012. The record industry trade group's study states that UK consumers spend around 23% more on music than in other G7 countries, and this in turn correlates to increased tech sales. For every 1% increase in demand for music, for instance, there is a 1.4% correlating increase in smartphone purchasing. And that rises to 2.2% for tablets.