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Streaming boom gives German music market growth

Sunday, July 30th, 2017 | Gadgets

The German music market once again recorded a slight growth. In the first half of this year, sales rose by 2.9 per cent compared to the same period of the previous year to 740 million euros. This was announced by the Federal Association of Music Industry (BVMI) in Berlin.

          Despite constant sales losses (minus 11.6 percent), the CD still holds the largest market share at 44.7 percent. Overall, trading with the silver disks still cost 331 million euros, but the business with the music in the network accelerates the decline. Streaming services such as Spotify, Apple Music, Tidal and Napster again recorded strong growth. Their sales climbed by 45 percent and now account for more than a third (256 million) of the total business. The good old record continues to boom in the niche: it rose by 17.6 percent to 37 million euros. On the other hand, the number of downloads was up 19.2 percent to 81 million. According to the association, 52.5 percent of sales were generated with physical phonograms. The online business represented 47.5 per cent. "In the first half of 2017, a balance between physical and digital business is slowly becoming apparent in Germany," said Florian Drücke, Managing Director of BVMI. The music industry was one of the first industries to face the challenge of digital change. After the business shrank for a long time due to the spread of illegal copies on the Internet, for the first time in 15 years, a narrow turnover of 1.2 percent was registered for the first time in 15 years. Since then, it has been steadily climbing uphill. For the full year 2016, sales rose by three percent to EUR 1.59 billion. dpa





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