The report credits the “dramatic growth” in the popularity of paid-for digital services such as Netflix, Amazon, Apple, Deezer and Spotify as the key driver of overall entertainment revenues.
“It is an extraordinary testament to the appeal and resonance of digital entertainment services that they have helped home entertainment to hit this milestone,” said Kim Bayley, the chief executive of the ERA.
“The 2008-2009 recession hurt both the entertainment and reading markets,” said Themis Kokolakakis of the Leisure Industries Research Centre.
The report notes, however, that two physical product areas bucked the downward sales trend last year.