Italian music market up 14.2% in first half of 2023 with streaming subscriptions growing by 18.2% according to FIMI, the Italian recorded music industry association. Total revenues were Euros 175 million according to data compiled by Deloitte for FIMI. Streaming continues to dominate in Italy with 139 million users representing 16% growth on the same period last year. Streaming subscriptions were up 18.2% in the same period. Revenues from the ad-supported services also rose, up by 22.9%, while there was a slight decrease of -0.5% for revenues from video streaming. Overall, digital today represents 84% of the market, in line with 2022 results.
Physical products performed well with a market share of 16%, up 9.4% compared to last year. Vinyl LPs continue to dominate growing by 14.3% and CD sales were also up 5.3% reversing what has been a downward trend in past years.
Local music continues to be a major force in Italy and details of the top ten Albums and Singles can be found here.
