Digital music sales grow apparently driven by Spotify

Friday, 13 July 2012
There is a boom in the Digital music sector as the Swedish branch of the industry reports growing revenue from streaming services. Revenue rose by 79 percent in the first half of this year, accounting for more than half of total sales of music this way.

After many difficult years for the industry, it is reported that sales in the digital music sector rose first half of this year by 30 per cent over the corresponding period in 2011.

The reason is being blamed on large revenue generated from Spotify and similar services which have continued to grow very strongly, while the decline in CD sales have levelled off.

Total music sales amounted to Skr 446 million, according to statistics from Gramophone Suppliers Association (GLF). Streaming services such as Spotify accounted for Skr253 million, an increase of 79 percent.

Album sales, that is CD sales were Skr156 million, representing a volume of almost 4.4 million albums. That signified a decrease of only one percent compared to first half of last year.
Ludvig Werner, CEO of the record companies' trade association, IFPI, are surprised by the large increase in the total music sales.
By Scancomark.se Team

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