August 12, 2021
Germany generated €903.8 million (approximately $1.094 billion) on a retail basis in the first six months of this year from physical music sales and streaming, an increase of 12.4% year-over-year.
That’s according to new results published today (August 10) by the German Music Industry Association (BVMI) in its H1 2021 report.
The publication of BVMI’s H1 report follows the news in March that the country’s recorded music revenues grew 9% year-on-year to €1.79 billion (approximately $2.02bn) in 2020 on a retail basis, in spite of the pandemic.
Breaking down Germany’s total H1 revenue figure reveals that audio streaming revenue from the likes of Spotify, Apple Music etc. was the country’s primary growth driver, increasing 19.9% year-over-year in the first six months of 2021.
Audio streaming’s share of total revenue is now 70.6%, with the format only having only overtaken CDs in Germany in terms of revenue for the first time in H1 2018.
“THE HALF-YEAR FIGURES ONCE AGAIN DEMONSTRATE THE INNOVATIVE STRENGTH OF THE INDUSTRY AND THE STRATEGIC FORESIGHT OF OUR MEMBERS, WHO, AS PARTNERS OF THE ARTISTS, ARE CONTINUOUSLY EXPANDING THE DIGITAL VALUE-ADDED POSSIBILITIES.”DR. FLORIAN DRÜCKE, BVMI
Dr. Florian Drücke, BVMI Chairman and CEO, said: “In the first half of 2021, the industry’s turnover grew by a significant 12.4%. The digitally generated share rose to almost 80 percent, which represents a new peak.
“The fact that in the analog segment vinyl has even grown by around 50% in the last six months shows a special facet of our market.
“The half- year figures once again demonstrate the innovative strength of the industry and the strategic foresight of our members, who, as partners of the artists, are continuously expanding the digital value-added possibilities.
“The dramatic impact of the Corona pandemic on the entire live sector once again illustrates the importance of digital business to many, but also shows how deeply affected certain sub-sectors of the music industry are currently by the pandemic.”
Music Business Worldwide