Streaming is France’s main source of recorded music with nearly 1 in 2 music consumers (46%) using a streaming service. Of these streaming music fans, 5.5 million now have a paid subscription according to figures released by SNEP, the French recorded music industry association. The French recorded music market grew for the 3rd consecutive year with a modest growth of 1.8% over the previous year.
Digital sales generated 57% of revenue exceeding that of physical sales for the first time. Sales of CDs continued to decline but still represents more than one third of physical and digital revenues due to an extensive distribution network consisting of more than 4000 outlets.
Vinyl continues its popularity with a five-fold increase in sales over the past 5 years amounting to nearly 4 million copies sold. Vinyl now accounts for almost a fifth of the physical market’s revenues.
The real growth driver was streaming and particularly paid subscriptions which rose by 23% and represents the main source of recorded music revenue. Paid subscriptions generated 41% of music sales compared to 8% 5 year ago. Free listening on audio services and video platforms accounts for less than 10% of sales. Streaming growth is not restricted to the young with 30% of users being 50+ years old.
During 2018 there were 57.5 billion audio streams, an increase of 35% compared to last year, with weekly streaming peaking at 1.3 billion streams at the end of December.
Alexandre Lasch, Chief Executive Officer said, “In a win-win market, we are particularly proud of the spectacular successes of the Made in France artists, having made 19 of the 20 best album sales of the year 2018, and occupying 80% of Top 200.”
SNEP is the French national union of phonographic publishing, and is the main employers’ organization grouping the producers, publishers and distributors of recorded music, partners of the artists of music. It represents the interests of all French labels, of all sizes and from all musical horizons whose turnover amounted in 2018 to €735 million.
To read the 2018 Review of the Market in Recorded Music (in French) go here.
