STREAMING NOW ACCOUNTS FOR 72% OF RECORDED MUSIC MARKET IN DENMARK
AUGUST 21, 2015 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 fromstreaming 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 ofincome 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).Music Business Worldwide