Streaming now makes up 88% of Swiss music sales with total sales of CHF 233.9 million in 2023, 5% more than in the previous year according to IFPI Switzerland. Music streaming services such as YouTube, Apple Music and Spotify grew to CHF 206.1 million (+8%) and now accounts for 88% of the overall market. Sales of downloads and physical recordings continue to decline. The moderate growth in vinyl that has continued since 2010 fell slightly after a brief resurgence in 2022. Physical recordings now only make up 8% of the overall market, while digital music consumption dominates the market at 92%.
Downloads and CDs are becoming marginal
While music streaming continues to show considerable growth, in 2023 sales from downloads amounted to CHF 9.6 million (-13%) and only contribute 4% to the overall market. At its peak in 2012, download sales amounted to CHF 77.3 million. CD sales are similarly losing importance, accounting for 6% of sales at CHF 13 million (-20%). The vinyl format is also stagnating and, at CHF 4.3 million (-4%) is now lower than its peak in 2021 (CHF 4.8 million).
The most successful single of 2023 was “Flowers” by Miley Cyrus, and the most successful album was “Hackney Diamonds” by the Rolling Stones. Züri West’s album “Loch dür Zyt” reached number three in the annual charts, making it the most successful Swiss record of the year.
Lorenz Haas, Managing Director of IFPI Switzerland, comments: “Through its ten-year triumph, streaming has become the dominant music format. The global availability of almost all titles on the platforms makes music consumption more diverse than ever before. Last but not least, music styles outside the mainstream and older titles that find a new audience and generate income for far longer than was the case in the physical market or through downloads also benefit from this.”
