Within the first half of 2024, Spanish recorded music income reached 249.8 million euros ($269 million), a rise from the identical interval final 12 months Annual enhance of 16.6%.
That is based on Promuscae, the commerce physique representing the recorded music business out there.
Delving deeper New statistics launched by Promuscae reveal that Spain tops the charts for music streaming income 221.86 million euros elevated within the first half Annual enhance of 19.1% In contrast with the identical interval in 2023.
vocal Streaming media share 83.5% (€185.22 million) of complete streaming income, with video streaming accounting for 16.5% (36.64 million euros) of complete streaming income.
Streaming media (audio and video) share 88.8% Proportion of complete market income.
Promuscae President feedback on the most recent market knowledge Antonio Gissasola Noting that “this stays an enormous problem for the business [in Spain] Let the general public make a agency dedication to devour music [paid] Subscription happens on our [neighboring markets]”.
Promuscae famous in its first-half report launched on Thursday (September 5) that streaming income out there “may enhance considerably” if “even some” of the present ad-supported consumer base will be transformed to paid subscriptions.
The group cited analysis launched in July that confirmed 68% of music streaming customers within the Spanish market have been ad-supported.
Elsewhere within the Promuscae report, the group reveals Spain’s bodily music market is rising 0.03% Annual enhance to 25.7 million euros (See beneath) First half.
In brick-and-mortar market, income generated by vinyl will increase Annual enhance of 11.9% to €16.18 million, accounting for 62.8% of all entity revenues. CD gross sales decline 15% annual enhance Within the first half of 2023, income was €9.39 million.
Antonio Guisasola, President of Promuscae, added: “The music recorded within the first half of this 12 months could be very encouraging [revenues] in spain [grew] With greater than 16%, this highlights that the laborious work and expertise of Spanish artists and labels are bearing fruit and that music continues to draw standard curiosity “.
He added: “Streaming is clearly the first means we devour recorded music and is the biggest financial supporter of the file market, however there may be nonetheless demand for bodily merchandise corresponding to vinyl information, whose gross sales are rising steadily and are the most well-liked. Customers listen.
Gizasola additionally highlighted one other problem dealing with Spain: the nation’s recorded music market wants to advertise native artists and assist “companies” [in the market] Spend money on nationwide expertise.
Spanish-language music dominates market charts in FY23, however native artists from Will Web page and Chris Dalla Riva argued in Spain journal final month that Spain has failed to take action. This column/edit.
The rationale behind this anomaly is that this market speaks the identical language as a lot of the Latin American market. and the worldwide success of Latin music superstars from markets corresponding to Colombia, Mexico, Argentina and Puerto Rico.
As you’ll be able to see within the official annual rankings compiled and printed by GFK and Promuscae, final 12 months’s high 10 best-selling singles in Spain have been all Spanish-language tracks, recorded by artists from the broader Spanish-language music scene.
Solely one of many high 20 best-selling singles is a non-Spanish music – Miley Cyrus flowers.
All EUR/USD conversions on this report are based mostly on common trade charges for the interval decided by the European Central Financial institution.world music enterprise
