Italian music market up 15.1% in first half of 2024 with streaming subscriptions growing by 23% according to FIMI, the Italian recorded music industry association. Total revenues were over Euros 200 million according to data compiled by Deloitte for FIMI. Streaming continues to dominate in Italy with premium streaming seeing revenues growing by 23%, bringing the entire streaming segment to cover 81% of the market thanks to the overall growth of 18.1%.
In the first half of 2024, GfK data reveal that the streaming market saw its volumes grow by 31.7%, with over 46 Bn total streams. A significant growth of 23.5% is also recorded for video streaming revenues.
Physical products performed well with growth of 5.7% which continues to see vinyl LPs increasing in popularity. Vinyl sales grew by 16% helping the physical market to take 15% of the total market. CDs continued to decline decreasing by 10.6% during the period.
The synchronization segment also performed well, closing the semester with a growth of 4.5%.
Following a trend that has been underway for a few years, local music continues to be a major force in Italy with the H1 2024 charts for both Albums and Singles entirely occupied by local artists.
Half yearly market data can be downloaded here.
