Tuesday, March 21, 2017

Italy’s recorded music market growth stalls as streaming jumps 39% | Music Business Worldwide

Italy’s recorded music market grew just 0.4% last year – although streaming and vinyl both reached record highs.

The annual revenue in the market in 2016 reached €149m, according to data collected by Deloitte for FIMI.

It was the fourth consecutive year of growth, but in the previous 12 months (2015), Italy posted a 21% increase.

In 2016, the decline of physical market was more evident although sales of CDs remain the largest source of revenue with a market share of 54%.

Streaming subscriptions increased by 39.4% and represent the second largest source of revenue totaling €35.2 millions – with a 51% share of the entire digital market.

Download revenues were down 23.9% while ad-supported video streaming income increased by 4.3%.

Local repertoire remains strong in Italy with 17 out 20 albums in the annual top ten made by Italian artists.

Vinyl sales saw a significant increase of 52% compared to 2015, with the format’s market share rising to 6 per cent (compared to 4 per cent in the 2015).

Italy’s best-selling album in 2016 was Le Migliori (pictured) by Mina and Adriano Celentano.Music Business Worldwide

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