Record labels have for the first time quantified the revenue they generate outside their core business of album and single sales, as the music industry continues to grapple with the de-clining value of music retail.
The BPI, a UK trade body, said that 11.4 per cent of record labels' revenues came from areas such as copyright licensing, merchandise and sponsorship deals. Non-retail sales rose 13.8 per cent from £106.9m in 2006 to £121.6m last year.
