SEARCH DATE RANGE

SEARCH TERM OR WORD

 

  • Consumption of streaming maintains last years' growing trend and represent 88.8 % and total market.
  • The physical market closes the semester with a slight rise of 0.03% achieved thanks to the continuous growth of vinyl sales (11.9% regarding H1 2023), which accounts for 62.8% of physical sales revenues

 

PROMUSICAE releases today sales figures referred to H1 2024

Recording industry takes its usual stock of first half of the year and PROMUSICAE, the organisation gathering more than 95% of the Spanish recording market, is presenting today the figures of H1 2024. The good progress of the Spanish recording market that from January to June 2024 yields a figure of 249.8 million euros devoted to consumption of recorded music in Spain in their different formats. These figures represent an increase of 16.6% compared to the same period of 2023 (214.3 million euros income).

The first six months of 2024 have meant a new growth for the recording industry, mainly thanks to the growth of the digital market, which continues its great evolution with a rise of 18.8 % mostly due to streaming, representing 99% of digital consumption.

The physical market during the first half of 2024 “equals” the growth of the same period of 2023, and remains with a growth of 0.03%, provided mainly by the consumption of vinyl, rising 11.9% regarding the same period of the previous year, whereas CD decrease by 15%. Other formats also decrease compared with the same period of 2023 (down 32.9%) and DVD (down 15.1%).

Streaming is driving the recorded music consumption
Data yielded by the balance of half year 2024 streamline that the good progress of the recorded music market is supported by digital consumption, representing already 89.7% of the total industry with 224.15 million euros. In this digital market, people are mainly consuming streamed music, 88.8% of total market and generating revenues of 221.86 million euros (an increase of 19.1% compared to the same period of 2023). From the above, the provision of audio streaming is to be highlighted, 83.5% with revenues of 185.22 million euros, compared to 36.64 million euros of video streaming (16.5% of total streaming). Streaming revenues could be highly increased if the very relevant percentage of add supported access in our country (68% of total, as gathered by PROMUSICAE's report published in July "Radiography of Recorded Music 2023") became, even partly, premium subscriptions; that would get us closer to the levels of neighbour countries, where the main share of consumption is made through subscription services from long time ago.

Regarding the rest of the digital market, permanent downloads keep decreasing (-13%, scarcely providing 1.3 million euros), although it is striking the growth of products for mobile phones that, even not reaching one million euros, register a percentage 7.5% higher regarding last year.

Vinyl holds the physical market
The increase of sales of vinyl on first semester 2024 (11.9% more that the the same period of 2023), providing 16.18 million euros, and representing 62.8% of physical formats sales, makes that the consumption of analogical formats does not yield negative figures overall. Sales of CD drop 15% in respect of first half of 2023, with revenues of 9.39 million euros to the total market.

Promising prospects for recorded music in 2024
Antonio Guisasola, president of PROMUSICAE, is pleased with figures of first half 2024 and notes that “it is very encouraging that in this first part of the year the figures growth of recorded music in Spain keep over 16%, as this highlights that the efforts and talent of Spanish artists and recording companies bear fruit, and music continues grabbing the interest of the public".

He says that "streaming is obviously the main way in which we consume recorded music and the greatest economic support of recording market, but the public is still demanding physical products such as vinyl, which sales steadily grow and is most valued by consumers".

For Guisasola, "the challenge remains to push even stronger the Spanish recording production, helping companies of our country to invest in national talent, for which it is essential to be supported with public measures as can be tax incentives to Spanish production and the support to internationalisation of our recording production". Besides, he adds, “it remains a great challenge for the industry to get the public to make a decided commitment to consume music through payment subscriptions, as it happens in our surrounding advanced countries, that besides notably improving consumption experience, allows the industry to get the necessary economic return to keep betting for our artists' talent on a sustainable basis".

16 Oct 2025 | Press release

beatBread Launches $100 Million Global Independence Fund in Association with Leading Independent Music Organizations

 The Fund provides direct financial support to empower independent labels and distributors in a shifting industry      beatBread, a leader in funding for independent labels and musicians, has announced the launch of the Global Independence Fund (GIF), a new $100 million fund...more

16 Oct 2025 | Press release

Brandon Burch wins National Album Day’s mural competition

  National Album Day 2025 is turning walls into stages. The winner of this year’s National Album Day Mural Competition, celebrating the spirit of rock in all its forms, has been announced. The winning design, created by Brandon Burch, will be placed...more

16 Oct 2025 | Press release

Yoto Launches Official KPop Demon Hunters Soundtrack Card

Launching two days before the official vinyl release, Yoto brings early access to the platinum-certified soundtrack from Netflix’s most-viewed film ever   Yoto, the award-winning audio platform for kids, today announced the launch of the KPop Demon Hunters soundtrack as a Yoto...more

16 Oct 2025 | Press release

Jukebox Launches Inaugural $15M Early-Stage Venture Fund to Back Innovation Across Music, Tech & Culture

  Jukebox is expanding its global creative footprint with the launch of Jukebox Ventures, announcing the launch of their Fund I which is raising up to $15 million dedicated to backing the next generation of startups at the convergence of music,...more

16 Oct 2025 | Press release

Karma Artists Unveils Two Senior Appointments

London based artist management company Karma Artists has announced an expanded vision for the company as it continues to build on recent global successes from its roster of world-class writers, producers, and artists. As part of this evolution, the company is...more

16 Oct 2025 | Press release

Association of Independent Festivals and British Arts Festivals Association announce alliance

AIF and BAFA MOU covers events, reports, access and representation across sectors.   The Association of Independent Festivals (AIF) has forged an alliance with the British Arts Festivals Association (BAFA) that will see the two trade bodies work together across events, data...more

16 Oct 2025 | Press release

TikTok crowns global champions of TikTok LIVE: Music On Stage

  Caramel (APAC) and Anyelique Solorio (EMEA & Americas) named global champions of TikTok LIVE’s first-ever ‘Music On Stage’ competition Winners to perform at TikTok LIVE Fest 2026 and receive promotional opportunities through SoundOn 1.4 million viewers tune in for Global Finales of Music On...more

16 Oct 2025 | Press release

Tkandz & CXSPER's NOW OR NEVER is SoundOn's latest smash hit

Tkandz (160k followers) is a British rapper and songwriter who is having a massive global viral moment thanks to "NOW OR NEVER" (with CXSPER), who is signed to Everything's Yours Entertainment, and distributed by SoundOn and promoted on TikTok and other platforms.   The track...more

16 Oct 2025 | Press release

End ghostwriting: A call for fair credit in music for film, TV and games

THE IVORS ACADEMY LAUNCHES NEW CAMPAIGN BACKED BY LEADING COMPOSERS TO END GHOSTWRITING AND ENSURE EVERY MEDIA COMPOSER IS CREDITED, BETTER PROTECTED AND PAID FAIRLY.   The campaign invites composers to sign the End Ghostwriting Pledge, committing to transparency with productions, fair...more

16 Oct 2025 | Press release

Sony Music Publishing, Sea Gayle Music, Domain Capital Group Launch Global Admin Partnership

Sony Music Publishing Nashville announced today it has entered into a global publishing administration partnership with Sea Gayle Music and Domain Capital Group. The partnership will see SMP providing its global administration services to Sea Gayle’s complete roster and catalog,...more

16 Oct 2025 | Press release

Musixmatch Signs AI Innovation Deals with Sony Music Publishing, Universal Music Publishing Group, and Warner Chappell Music

First-of-their-kind industry partnerships enable Musixmatch to build new, responsibly trained, AI-powered services using authorized, licensed compositions from some of the world's leading music publishers, providing compensation for rights owners and songwriters Today, Musixmatch, the global lyrics and music data company, announced a...more

16 Oct 2025 | Press release

Believe appoints Kazunari Imai as Chairman & Strategic Business Relations Senior Executive Director of Believe Japan

Believe, one of the world's leading digital music companies, announces today the appointment of Kazunari Imai's, highly respected and leading industry figure, in the newly created role of Chairman & Strategic Business Relations Senior Executive Director of Believe Japan.  Reporting...more

15 Oct 2025 | Press release

IFPI shuts down Y2mate.com and 11 other major stream ripping sites in landmark action in Vietnam

IFPI, the organisation representing the recording industry worldwide, has today announced the successful closure of Y2mate.com, one of the world's most visited stream ripping sites, together with 11 other stream ripping sites following targeted enforcement action in Vietnam.   Y2mate.com and the...more

15 Oct 2025 | Press release

First LIVE Trust grant making strategy published

Applications welcomed before year-end with initial grants awarded in January.   The LIVE Trust has published its initial grant making strategy detailing its approach to investing in programmes that benefit grassroots venues, artists, promoters, and festivals.  This paper covers the Trust’s planned...more

15 Oct 2025 | Press release

First speakers for ESNS conference confirmed

Bella Union, EXIT Festival, FKP Scorpio, IMPALA, K2 Agency, Nettwerk Music Group, Pohoda Festival and WME are part of Europe’s largest music conference program in Groningen ESNS (Eurosonic Noorderslag) announces the first speakers for its annual music conference, taking place from...more

15 Oct 2025 | Press release

Growing indie Minds On Fire signs admin deal with Sony Music Publishing and Exclusive Writer deal with Jay Gilbert

Minds On Fire today announced a new partnership with Sony Music Publishing (SMP), the world’s leading music publisher, which will provide worldwide administration services for Minds On Fire’s acclaimed catalogue and roster of songwriters and producers.  Minds On Fire’s roster includes...more

15 Oct 2025 | Press release

Concord Music Publishing ANZ Signs Global Publishing Deal with Floodlights

  Concord Music Publishing ANZ is proud to announce the signing of acclaimed Australian rock outfit Floodlights to a global publishing deal. Formed by Louis Parsons, Ashlee Kehoe, Archie Shannon, Joe Draffen and Sarah Hellyer, Floodlights have become one of Australia's most...more

15 Oct 2025 | Press release

October's Bandcamp Friday Generates Over $3 Million for Independent Artists and Labels in Just 24 Hours

Since 2020, Fans Have Helped Put Over $140 Million Directly in the Hands of Independent Artists and Labels    Bandcamp, the world's largest online music marketplace and community, has once again brought artists and fans together in a powerful show of support, with...more

15 Oct 2025 | Press release

Warner Music Central Europe combines Benelux and GSA

Niels Walboomers appointed President of the expanded region Doreen Schimk and Fabian Drebes will step down as WM Central Europe Co-Presidents after a successful four year tenure Warner Music Central Europe is expanding to combine its recorded music businesses in Benelux...more

15 Oct 2025 | Press release

Echora Lets Artists and Creators Own Their Influence in Generative AI

New startup uses live reference to attribute exactly what music or images have led to specific outputs, partnering with Muso.AI to ensure accurate music credits. Creative works are the foundation of any AI that generates music, images, videos, 3D models, or...more

15 Oct 2025 | Press release

Digital 2026: Internet users pass 6 billion, social media users become a 'supermajority', and AI use tops 1 billion

Report finds social media added over a quarter of a billion new user identities in the last year, but user behaviours are evolving   Meltwater, a global leader in media, social and consumer intelligence and We Are Social, the socially-led creative agency, have...more

14 Oct 2025 | Press release

Final winners revealed at the DJ Awards iconic Ibiza ceremony

https://www.instagram.com/thedjawards/ The DJ Awards 2025 lit up ROTO Club in Ibiza Town with a suitably spectacular and proudly independent ceremony celebrating the very best in electronic music culture. The night was full of special, end of season, energy and the winners...more

14 Oct 2025 | Press release

Call for Recording Studios to Be Recognised Under Retail, Hospitality and Leisure Business Rates Relief

Petition  The Music Producers Guild, supported by UK Music, are calling on the government to recognise UK recording studios as eligible for reduced business rates under the Retail, Hospitality and Leisure (RHL) scheme, a move that could safeguard hundreds of vital cultural...more

14 Oct 2025 | Press release

Nettwerk Music Group appoints Owen Lloyd as Director, Catalogue Marketing and Development

Nettwerk UK announces their latest strategic hire in anexciting new chapter of expansion for the label.  Owen Lloyd joins the growing London based Nettwerk team to lead on all catalogue marketing strategy and initiatives globally. Bringing across a wealth of experience from Universal Music Recordings, where he...more

14 Oct 2025 | Press release

São Paulo Court Issues Another Ruling Against Streaming Fraud Under Operation Authentica

  A civil court in São Paulo has issued a further positive ruling against a provider of streaming manipulation services, used for streaming fraud, reinforcing the message in Brazil that streaming fraud tools are illegal.The 17th Civil Court ruled against the operators...more

14 Oct 2025 | Press release

The Cat's Mother of the Year Award 2025

Supported by Amazon Music Presented to music supervisor and business leader Abi Leland     Recruitment drive launched for mentors from A&R, Branding, Creative Direction, Digital Marketing, Events and Live   The Cat's Mother, the not-for-profit music industry mentoring and networking service founded by Natalie Wade in 2019,...more

14 Oct 2025 | Press release

AlphaTheta prepares 2025 return to Amsterdam Dance Event

For the first time in several years, AlphaTheta will be back at the ADE Lab for the whole of the festival, hosting events there and in 3 other locations: Amsterdam Flavours, Gashouder Office and a pop-up venue in a container,...more

14 Oct 2025 | Press release

War Child invites 52 artists to create artwork inspired by Kate Bush’s ‘Running Up That Hill’ for Sound & Vision 2025

  Peter Doig, Maggi Hambling CBE, Corbin Shaw, Unskilled Worker and over 50 more visual artists respond to Kate Bush’s Running Up That Hill to raise funds for War Child, the specialist charity for children caught in conflict.  Bidding starts at just £100 for...more

13 Oct 2025 | Press release

LIVE, NAA, MVT, BACH urge Government rethink on tax hike ahead of critical Autumn Budget

  The live music sector has written to Government calling for an exemption for live music venues from the new higher business rates multiplier for large properties. The Government's new business rates policy will raise business rates for buildings with a rateable...more

10 Oct 2025 | Press release

Long-Overdue Licensing Reform Offers Hope for a Modern, Balanced System Says NTIA

Statement from Michael Kill, CEO of the Night Time Industries Association on the Government’s “Cheers to Change” Licensing Consultation Announcement “We are pleased to see the Government’s announcement of an expedited consultation period following the Licensing Taskforce’s recent recommendations, as part...more

16 Oct 2025

  • Spotify working on ‘SongDNA’ feature that showcases the people behind tracks (see Digital)

15 Oct 2025

  • How far should cultural boycotts go? (see Features)

  • How Subvert is building a co-op owned Bandcamp alternative (see Digital)

14 Oct 2025

  • Lucian Grainge outlines UMG’s strategy for generative AI partnerships and product development (see News)

  • The future of music streaming: Change or be changed (see Comment)

13 Oct 2025

  • Sam Altman: the man who stole the rights from copyright. If he’s the future, can we go backwards? (see Features)

10 Oct 2025

  • Warner Music Group CEO Robert Kyncl discusses the company's “tremendous catalogue” (see Features)

  • There’s a £1 idea that could save small music venues. Is Live Nation holding it back? (see Features)

  • Breaking down the arguments around VMG’s Downtown Music acquisition (see Analysis)

09 Oct 2025

  • Vevo report shows how fandom turns passion into impact and purchasing power (see Reports)

08 Oct 2025

  • The music industry must plan for the day when AI music-generation tools produce humanlike music in bulk (see Features)

07 Oct 2025

  • Price cap on ticket resales set to be introduced (see News)

06 Oct 2025

  • Raye and Sony’s Jon Platt speak out for songwriters at Ivors Academy Honours Ceremony (see News)

03 Oct 2025

  • Does Daniel Ek deserve to be the richest ever man in music? (see Comment)

  • Independent music community publishes '100 Voices' on why Universal’s acquisition of Downtown should be blocked (see News)