(ANSA) - ROME, MARCH 23 - In 2020 the global recorded music market grew by 7.4%, marking the sixth consecutive year of growth: declares IFPI, the organization that represents the international phonographic industry, in the annual Global Music Report , which shows total revenues of $ 21.6 billion.
The growth, driven by streaming, is linked in particular to revenues from premium subscriptions, which increased by 18.5%: at the end of 2020 there were 443 million paid subscription account users.
The growth in streaming revenues more than offset the decline in revenues from other formats, including the physical segment - down by 4.7% - and related rights, down by 10.1% due to the pandemic.
In a complex year for music, Italy has shown a strong affirmation of digital consumption, which has recorded a significant surge in premium streaming subscriptions, whose revenues have seen an increase of 29.77% exceeding 104 million euros.
There was also a significant increase in consumption on social media platforms, where revenues from advertising-supported models grew by 31.59%, reaching a total of 38.9 million euros;
and videostreaming is no exception, with + 24.97%.
The digital market share thus reaches 81% of all industry revenues in Italy, compared to 72% in 2019. Last year, between physical, digital and rights, the market generated over 258 million euros, marking + 1, 44% on the previous year.
The physical segment was penalized in 2020 by repeated closures - although partially offset by the growth of e-commerce.
And if vinyl continues to show steady growth, marking an increase of 2.50%, the Culture Bonus, active also in the past year, contributed to curbing the fall of the CD: 18apps have received revenues of over 16 million euros.
(HANDLE).