Friday, August 28, 2015

Streaming now accounts for 72% of recorded music market in Denmark

Written by Tim Ingham — Digital is taking over in Denmark: 88% of music companies’ revenue comes now from digital music sales.

According to figures for the first half of 2015 released by the IFPI, revenue from streaming has risen by 14% compared to the same period in 2014.

That drove a very small (0.4%) rise in income from recorded music in H1 2015, despite the fact that physical sales fell by 35% year-on-year.

Downloads dropped by 13% in the period.

IFPI Denmark Director Jakob Plesner Mathiasen said: “The interim figures for 2015 confirm the trend we have seen over the last few years.

“The streaming services continue to ensure overall growth in the market, while consumers [are still buying] CDs and downloads. ”

Streaming constituted 72% of the market in H1 2015, downloads accounted for 16%, while sales of physical products only claimed 12% of the market by value.

Jakob Plesner Mathiasen added: “Five years ago streaming was a marginal source of income for music companies. Today, streaming 72% of music companies’ revenue from recorded music.

We also know that the Danes streaming more than 800,000 different titles a day and over 100 million songs per week.

“It is a spectacular development that testifies to both industry and consumers have been innovative in recent years. ”

Denmark’s recorded music industry posted its biggest annual income for four years in 2014, growing 1.8% to DKK 437m (€58.6m).

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