The turnaround that the music industry has waited almost a decade for has finally arrived, thanks to streaming. The latest evidence comes from Germany where the recorded music market was up by 3.6% in the first half of 2016, driven entirely by streaming.
The recorded music market in Germany was up by 3.6% in the first half of 2016, driven by an 88% increase in revenue from streaming, according to figures published by German music industry association Bundesverband Musikindustrie (BVMI). At the same time, CD sales declined sharply by 9.6%, but still comprise slightly over half of all sales, according to BVMI.
Despite the slide in physical, vinyl saw a strong half-year, up by 46.2% and capturing more than 4% of the market share from the previous year.
Overall, the German market is now comprised of 60.4% physical and 39.5% digital, with streaming representing 24% and downloads just 14%.
Prof. Dieter Gorny, Chairman of BVMI said that the shift to digital is happening more quickly than expected and that it was "more important than ever to clarify the conditions for creators and their partners as soon as possible and adapt to the reality."
France Just announced 6% half hear growth.
- via CelebrityAccess