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Spanish Music Industry H1 2023 Revenue Approached $230 Million

Spanish Music Industry H1 2023 Revenue Approached $230 Million

The Spanish music business grew by virtually 12% throughout 2023’s opening half, when streaming accounted for almost 87% of income, in response to newly launched knowledge.

Productores de Música de España (Promusicae) reached out to DMN this morning with Spain’s H1 2023 recorded music business stats. In accordance with the suitable useful resource, the European nation of about 48 million generated €214.3 million (presently $229.46 million) in recorded income throughout Q1 and Q2, up about 11.53% from H1 2022.

Behind the H1 2023 sum, Promusicae pointed to €186.17 million/$199.34 million in streaming income (up 13.26% YoY), together with €156.97 million/$168.07 million from audio streams (up 15.54% YoY) and the remaining €29.20 million/$31.27 million or so from video streaming (up 2.4% YoY).

Predictably, given these figures and longstanding tendencies, downloads (€1.52 million/$1.63 million, down 8.05% YoY) and cellular choices together with ringtones (€899,000/$962,716, down 20.88% YoY) slipped in the course of the six-month interval, per the Madrid-based group.

Shifting to the bodily aspect, Promusicae recognized income of €25.73 million/$27.55 million (reflecting 2.4% YoY development), which is claimed to have resulted largely from a 6.32% YoY gross sales spike for vinyl and its €14.46 million/$15.48 million H1 2023 income contribution to the Spanish music business. CD gross sales got here out to €11.04 million/$11.82 million (down 1.32% YoY), the breakdown reveals. 

Rounding out the bodily class, the entity acknowledged €96,000 ($102,804) in music-video gross sales, apart from €145,000 ($155,270) in income from different sources. In an announcement, Promusicae president Antonio Guisasola touted the exhibiting and took the chance to name for authorities “to determine as soon as and for all to help the Spanish recording business.”

Doing so, the almost 22-year Promusicae head indicated, will assist the Spanish music business to “seize the nice momentum skilled by Latin music to consolidate its development in our nation and overseas.”

Elsewhere in Europe, Bundesverband Musikindustrie (BVMI) in late July revealed that Germany’s personal recorded music house had generated €1.06 billion ($1.14 billion) throughout 2023’s first half, for a YoY enchancment of 6.6%. Streaming made up 75.7% of the full, although vinyl nonetheless managed to command a good 6% of the general market, per BVMI.

Italy’s business consultant, for its half, disclosed late final month that the nation’s recorded music market had grown by 14.2% YoY, for €176.09 million ($188.56 million) in income, throughout H1 2023. Digital contributed 84% of the determine, and vinyl nonetheless achieved a double-digit enhance, the Federazione Industria Musicale Italiana additionally relayed.

Most lately, the French music business was mentioned to have pulled in €397 million ($425.11 million) throughout H1 2023 – up 9.4% YoY – with streaming representing 77% of the sum. Miley Cyrus’ “Flowers” racked up probably the most streams of any track in France in the course of the six-month stretch, SNEP specified.

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