The numbers for Germany’s report enterprise are in.
Recorded music revenues out there, generated from music streaming, in addition to from the gross sales of CDs, vinyl LPs and downloads, reached USD $2.17 billion (on a retail foundation) in 2022.
That’s based on new figures printed by German Music Business Affiliation (BVMI) on Tuesday (February 28), and marks the third consecutive $2 billion 12 months for the market’s report enterprise.
The report trade in Germany generated a complete of €2.07 billion ($2.17bn) in 2022, which was primarily pushed by music streaming.
That €2.07 billion income determine in 2022 marked progress of 6.1% YoY.
BVMI notes that final 12 months’s income haul marks the primary time in 20 years that the two billion Euro mark had been surpassed for recorded music revenues in Germany.
In accordance with the BVMI, the final time this was achieved out there was in 2002, when Germany’s recorded enterprise generated €2.21 billion.
In contrast to 20 years in the past, nonetheless, at this time nearly all of revenues (73.3%) out there come from audio streaming. BVMI studies that audio streaming grew by 14% YoY in Germany in 2022.
Elsewhere, revenues from bodily music, together with gross sales of vinyl and CD accounted for 19.7% of the market.
Regardless of seeing a decline of 17.1% YoY, the second largest income in Germany in 2022 was the CD with a market share of 12.9%.
Vinyl got here in third place as within the earlier 12 months with a 6% share of the recorded music market in Germany.
The 5.1% improve seen by vinyl final 12 months, nonetheless, was considerably decrease than progress seen the earlier 12 months, when the format grew 20.1% YoY.
Total, the digital enterprise grew by 11.7% in 2022, whereas the general bodily market declined by 11.9%.
“The truth that the German music trade has [reached] the €2 billion mark for the primary time in twenty years is sweet information.”
Dr Florian Drücke, BVMI
Commenting on the outcomes, Dr Florian Drücke, Chairman & CEO of the BVMI, mentioned: “[Growth] of 6.1% [in 2022] means progress for the fourth 12 months in a row. The truth that the German music trade has [reached] the €2 billion mark for the primary time in twenty years is sweet information.
“Taking a look at streaming, it will likely be thrilling to see how the worth will increase we now have seen not too long ago from the primary suppliers will now play out within the wider market and likewise how Quick Kind Movies will be capable to monetise much more.”Music Enterprise Worldwide