For the first time in over a decade of year-on-year decline, recorded music revenues in France and Italy both grew in 2013.
Fueled by strong growth in digital, in particular streaming services, recorded music revenues in Italy rose 4% last year to €117.6 million ($160 million), according to figures published today by Deloitte for FIMI, the organisation that represents the Italian recording industry.
The positive results mark the first time that Italy’s music industry has experienced growth since 2002, although the Deloitte report does note that growth was 2% excluding performance rights income -- up 19% to €23.5 million ($32 million) -- synchronization deals and brand partnerships (up 3%, figures not disclosed).
In line with growth patterns in many of Europe’s other major music markets, digital revenues in Italy grew 18% last year to €38.1 million ($52 million) and now accounts for 32% of the country’s total music sales. Revenues from streaming services were up a gigantic 182%, with subscription services now accounting for 38% of Italy’s digital music market, up from 31% in 2012.
Download sales also grew by 6% in value. However, 6% growth in vinyl sales was not enough to arrest a decline in overall physical revenues, which fell 5% to €79.5 million ($108 million).
Commenting on the figures, FIMI president Enzo Mazza said in a statement: “The digital Italian market is finally becoming stronger and getting closer to the major European markets, even if its progress remains slow considering its own possibilities."
“We are still in a very fragile moment, because our [industry] has dropped by 70% in the last 10 years. Looking at the positive point of view, though, the ability of proposing many different platforms in various segments and for different users matches the consumers interest and enables us to involve fans by using unlimited catalogues,” Mazza went on to say.
The resurgence of Italy’s recorded music market mirrors that of France, where music sales grew by 2.3% in 2013 to €603 million ($820 million), after 12 years of consecutive decline, according to data released during Midem from French music trade body SNEP.
It was also announced during Midem, which took place in Cannes from Feb. 1-4, that Paris-based authors, composers and publishers' rights collection agency SACEM grew revenues by 1.7% in 2013 to €810 million ($1.1 billion). France and Italy are the fifth and ninth biggest music markets in the world, respectively, according to IFPI’s Recording Industry in Numbers Report 2013.
