Last year, Tom Cruise’s Top Gun Maverick and Harry Styles’ album Harry’s House both contributed to the entertainment sector’s record-breaking sales.
Early trade body estimates indicate that the two releases respectively sold the most units in the music and video categories.
The overall amount spent on home entertainment in 2018—including gaming—was £11.1 billion, rising 39% from the previous year before the pandemic and 6.9% from 2021.
In comparison, movie office receipts in the UK are higher than in 2021 but lower than before the outbreak.
The preliminary numbers, according to the Digital Entertainment and Retail Association (ERA), were “a fantastic vote of confidence” for the industry.
Lockdown habits have persisted, which ERA Chairman Ben Drury called “amazing,” with more people watching movies online than in theaters.
Few had anticipated that we would continue to witness the enormous increase in sales that occurred when the Covid lockdown kept people at home, he said.
The most popular video title of 2022 was Tom Cruise’s follow-up to the 1986 film Top Gun, while the Entertainment Retailers Association reported that more than 800,000 of the 1.1 million purchases came from “electronic sell-through” or downloads.
With £3.85 billion in revenue, subscription platforms like Amazon Prime, Netflix, and Now TV have grown by almost 18% since 2021 and now control 87% of the video market.
With sales of £4.7 billion in the UK in 2022, the gaming business still outperformed the film, television, and music industries, but the difference is closing.
In the past, people would line up outside stores on the day a major triple-A game was released, but these statistics reveal that 90% of video games are now purchased digitally.
When it comes to who the general audience preferred to listen to, Harry Styles topped both the lists for the year’s best-selling singles and albums with his single As It Was.
For the first time since year-end rankings started more than 50 years ago, all 10 of the most popular singles in the UK were produced by British artists in 2022.
Sales of music increased to their highest point since 2003. While physical sales decreased, streaming sites like Spotify and Apple Music saw an increase in revenue, giving the sector a roughly £2 billion profit.
“Music is within sight of reaching £2 billion in retail sales value for the first time in more than two decades,” stated ERA CEO Kim Bayley.
In March, the complete report will be made public.
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