Music Sales in Spain in 2017 rise almost 9%, above the World avarage, reaching 232 Million EurosNowadays, digital revenues almost double those of the physical market: 152 million compared to 79
IFPI GLOBAL MUSIC REPORT 2018 THE RECORDED MUSIC ANNUAL REPORT
Spanish consumers spent 231.7 million euros during 2017 in recorded music, which represented an increase of 8.9% compared to 212.8 million Euros, reported last year. This new positive balance confirms a continuous growth since 2014, as it is stated in the new edition of the Global Music Report (GMR, world annual recorded music report), which the IFPI, the organization promoting the interests of the international recording industry worldwide, has launched this morning in London.
Spanish market sales that until now were published by PROMUSICAE independently are far away from those of 742 million Euros Spanish consumers spent in recorded music in 2001, figure unreachable now. But after 12 consecutive years of significant revenue decline, “the dark period”, between 2002 and 2013, the recovery of the phonographic market in Spain is a consolidated reality. It has to be highlighted the absolute domination of the digital market over the physical, that begins to reach overwhelming levels. If in 2015, the result was a virtual tie between both markets, the present reality shows that music consumption is evidently digital. In particular, digital music (specifically, streaming and legal downloads) generated in Spain 152.4 million Euros, figure that doubles the 79.2 million coming from the physical market (Cds and vinyls). In other words, the digital market in Spain represents 65.8% of the sector.
The IFPI world report highlights two unquestionable realities regarding the Spanish case: the strong growth of the streaming services, each time more used in Premium tier (by monthly payment subscription), which reached in Spain, at the end of the year, 1.5 million users and 176 million users worldwide, and the remarkable recovery of the vinyl’s market, meanwhile the CD market loses intensity.
Revenue from paid streaming services in platforms like Spotify, Deezer, Napster, Tidal and similar increased in Spain to 84 million Euros, in 2017 (more that the whole physical market), meanwhile the ad-supported tier reached 30 million. On the other hand, only 24.2 million come from video services like Youtube and Vevo, a figure that is especially low in spite of the huge number of views, and therefore music consumption, which accumulate annually millions of videos available at these audiovisual platforms. It is remarkable that being Youtube, in all consumer surveys, one of the favorite sources for users to access to music contents, its contribution to the results of this year is a slight 10.4% of the total income in our country. IFPI highlight again in their report the worldwide impact representing this fact, known as Value Gap from the low economic return it generates like for example, only Despacito, Luis Fonsi’s song, available from the last 12th January, 2017, exceeds the monstrous figure of 5,000 million views all around the world.
For those who enjoy music in physical format, like lovers of analogic sounds and musical nuances, they still have the LP new life as an element of love for music and audiophilia, besides its extra value as “object of desire”. Figures are still modest, but eloquent.In Spain close to 700,000 vinyls were dispatched last year, what represents an increase of 46% compared to the previous year. At the same time, to the shops’ shelves they arrived around 8 million CDs for Spanish fans, which represents a sales volume of almost 67 million Euros, only a slight decline compared to 2016 figures.The best-selling records
IFPI annual report corroborates and certifies the information already advanced by PROMUSICAE two months earlier about best-selling albums and songs in our country. Pablo Alboran with Prometo leads the list of best-selling and most downloaded records. Following him, Joaquin Sabina (Lo niego todo), El Barrio (Las costuras del alma), Alejandro Sanz (+ es +: El concierto) and Munay, by Vanesa Martin. Regarding to the Top Songs, Despacito by Luis Fonsi is the undisputed number 1. Following him, Shape of You (Ed Sheeran), Me rehúso (Danny Ocean), Felices los cuatro (Maluma) and Súbeme la radio, Enrique Iglesias and Descemer Bueno alliance, Lion&Lennox. A reflection on tastes and models of consumption according to that the audience prefers, single songs or those faithful to the long play format.Global data
IFPI Global Music Report 2018 contains data of the annual activity country by country, as it is the Spanish case, finally offering a “snap shot” of the recorded music global situation. Frances Moore, chief executive, IFPI, commented: “It’s been another incredibly exciting year for music”, an optimistic view backed by the data compiled in the GMR. The global recorded music market grew by 8.1% in global terms, compared to the 9% announced in Spain and it is the third consecutive year of growth. The global turnover accounted for 17,3000 million Dollars and as in the Spanish case, streaming is once again the biggest source of growth of the sector with a 41.1% increase. This increase is, in part, due to the number of users who maintain paid subscription, already achieving 176 million users worldwide. Spain is above the world average in the way of consuming music. 65.79% of the income already comes from the digital environment compared to the 54% average percentage of the rest of countries.
IFPI Global Music Report 2018