German Music Industry Reports Streaming-Powered Growth
The German music industry increased sales by 4.4 percent in the first half of 2015 vs. the same time period last year, the Federal Music Industry Association (BVMI) of Germany announced.
Good news for the German music industry is good news for the world market, since Germany is the third-largest market for music behind the U.S. and Japan.
The decline in CD sales has been slower in Germany than it has in the U.S., but this year CDs have seen an overall decline of 3.3 percent. That was, however, compensated for by growth in streaming, which hit a whopping 87.4 percent.
The streaming market in Germany remains small compared with the CD market. CDs make up 60.6 percent of the German market, and streaming makes up only 13.9 percent. Downloads still constitute a considerable portion of sales, and digital sales overall make up 32.1 percent of the market.
Meanwhile, the vinyl market grew by 33 percent, claiming 3.1 percent of industry revenue.
Prof. Dieter Gorny, Chairman of BVMI said to Music Business Worldwide: "With the development of the music market, we see an example of the digital transformation of an economy that was considered by many over the years as a late bloomer."
Meanwhile, BVMI Managing Director Dr. Florian Drücke used the stats to emphasis fairness for artists in the changing economy. "With regard to current discussions about copyright amendments, it's important we don't forget that the digital licensing business needs reliable conditions to function effectively, and this requires involving creatives and their partners in the revenues generated by the platforms to the appropriate degree," he told Billboard.