September 29, 2023
That’s according to the market’s music industry association BVMI, which revealed this week that in H1, Germany generated €1.056 billion (approx. $1.18bn), on a retail basis, from music streaming as well as from the sales of CDs, vinyl LPs and downloads.
Digging deeper into Germany’s latest results for the first six months of 2023, BVMI reports that physical sales fell 0.8% YoY and accounted for 18% of the market.
CD sales specifically fell 4.1% YoY and accounted for 11.2% of total revenues generated in the market in H1 (see below). Vinyl sales, which now account for 6% of Germany’s recorded music market grew 6.3% YoY in H1.
Meanwhile, audio streaming saw continued growth in Germany in H1, with revenues generated by the format rising by 9.7% YoY.
Audio streaming now accounts for 75.7% of Germany’s total recorded music market
The H1 2023 results come five months after BVMI revealed that the market’s recorded music revenues, generated from music streaming, as well as from the sales of CDs, vinyl LPs and downloads, reached USD $2.17 billion (on a retail basis) in 2022 (up 6.1%).
“MUSIC SALES IN GERMANY CONTINUE TO DEVELOP POSITIVELY DESPITE THE ECONOMICALLY COMPLEX OVERALL SITUATION.DR FLORIAN DRÜCKE, BVM
Dr Florian Drücke, Chairman & CEO of the BVMI: “Music sales in Germany continue to develop positively despite the economically complex overall situation.
“For many years now, streaming has been the well-known driver that has significantly increased the market as a whole, the famous pie, ultimately benefitting everyone involved, companies and artists alike. Unfortunately, this circumstance is ignored in the current unbalanced debate about the streaming market.
Music Business Worldwide