Italian music industry grows 5% in first half of 2019 with streaming subscription revenue up by 32% according to FIMI, the Italian recording industry association. Figures released for the first 6 months of 2019 show that streaming represents 63% of all the revenues of the Italian recording industry generating over €54 million in the first six months of 2019.
Subscription revenue grew by 32% compared to 2018 and revenues from ad-supported audio also increased exceeding those of video sharing. Digital now makes up 73% of the Italian market with physical sales continuing to decline. Physical fell by 26% with the exception of vinyl, which grew 4.8% and now makes up 31% of the entire physical media market. At 27% of the market, physical sales have declined by 12% since 2018.
FIMI notes that Italian music continues to be popular with eight out of ten albums in the top ten and seven out of ten singles were home grown.
The entire record market generated €86 million (+5%) in the first half of 2019 boosted by the Culture Bonus 18app which turned over around €11 million. Around 430,000 eighteen-year-olds have signed up to the app and in 2018 the Culture Bonus generated €21 million in the full year.
