The economic upturn continues for the music sector.
But at a much slower pace.
After experiencing double-digit growth in 2021, the French recorded music market grew by 6.4% last year, to 920 million euros.
According to the Syndicat national de l'édition phonographique (SNEP), which published its annual report on Tuesday, "
growth remains significant despite a complex environment, marked by economic uncertainty, inflation and the challenges arising from the constant evolution uses
”.
However, the market is still far from returning to its historic level of 2002, the year when revenues peaked at 1.5 billion euros.
Compared to this golden age, the current turnover of music sales, both digital and physical, has been halved, and reached 766 million euros.
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Three-quarters of music revenue comes from digital
Three-quarters of these revenues now come from digital, compared to a quarter now for sales of CDs and vinyls, "
exactly the opposite of 10 years ago
", indicates the SNEP.
Subscription streaming on services such as Spotify, Deezer, Apple Music... is the main driver of growth, with 426 million euros, up 11% compared to 2021. This segment alone weighs 56 % Sales.
France now totals 11 million paid subscriptions and 16 million premium users (with Family and Duo accounts).
Insufficient, according to the SNEP: “
the use is still far from reaching the goal in conquering all audiences.
All generations combined,
".
The CD remains the sector's second source of income, just ahead of vinyl, but it is losing ground (25%) while the craze for records is undeniable (+13%).
Finally, advertising-financed streaming and video streaming are progressing at a sustained pace (+21% and +14%) but they still generate modest revenues since they represent respectively 8% and 9% of the turnover of music sales.
Beyond sales, income from synchronization (music for image, in films, commercials, video games, etc.) and related rights (private copying, music on the radio, TV clips, sound system, etc.) , represent respectively 32 million euros (+34%) and 122 million euros (+12%).
