Home Music Business Germany’s Music Market in 2016 Was up For the 4th Consecutive Year

Germany’s Music Market in 2016 Was up For the 4th Consecutive Year

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The overall growth in the Germany’s music market was up by 2.4% in 2016 to the tune of €1.58bn. ($1.68bn.). This was the fourth consecutive year of growth for the industry.

This is according to original assessments by the local commercial body, the Federal Music Industry Association (BVMI), based on retail sales (incl. VAT).

Streaming jumped by 73.1% to arrive at a market share of 24.3%, while digital downloads dropped by 19.4% to account for only 12.3% of the market.

Though the largest turnover is still attributed to CDs, sales dropped by 9.6% YoY to account for a market share of 53.7%. Vinyl is 41% to a share of 4.5%.

BVMI Managing Director Florian Drücke: “The growth curve in 2016 might be slightly flatter than in the previous year, but it doesn’t take away from the current overall positive trend within the market.

“The fact of the matter is that the 2015 holiday shopping season was given a particular boost by a number of mega-selling albums, whereas 2016 had no equivalent.

“The streaming business was able to more than offset the decline in physical sales with a significant increase of 73%.

“Indeed, it was once more that unique mix of digital and analogue that fuelled and shaped the German market – and ultimately made for a convincing year in the music business”.

“Streaming has finally reached German consumers.” Read more…

 

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