German music streaming sales grew 12.7% in first half of 2024 according to the BVMI, Germany’s recorded music industry association.
Total sales were €1.136 Bn, an increase of 7.6% compared to the same period last year (H1 2023: EUR 1.056 billion according to the full-year financial statements for 2023). Demand for physical media fell significantly by 11.9%. CDs (-22.5%) still contributed 8.1% to total sales, while vinyl achieved a market share of 5.9% following renewed growth of 5.4%. The physical business – CDs, vinyl, DVDs and singles – now accounts for 14.7% of industry sales, while the digital market, which gained 11.9%, accounts for 85.3%. As in previous years, the driving force here continues to be income from audio streaming (+12.7%); downloads fell by 16%.
Dr. Florian Drücke, Chairman & CEO BVMI said, “2024 is off to a good start, with the industry generating a total of €1.136 Bn in the first six months, 7.6% more than in the same period last year. The appeal of streaming services for music fans still continues to grow. Vinyl’s sustained upward trend shows that the physical and digital worlds remain complementary and interact with each other. Fans listen to and use music in all ways, which, accordingly, the labels, as partners of the artists, have an integrated view of, offer and expand in order to constantly expand the digital value creation opportunities in the common interest.”
