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Italy`s Recorded Music Sales Grows

MILAN, Italy (VIP NEWS) — Recorded music sales in Italy grew 21% in 2015 for the third consecutive year in 2015.

According to the Federazione Industria Musicale Italiana (FIMI), recorded music sales rose from €122 million in 2014 to a total of €148m in 2015 – an increase of 21%.

The strong performance of physical formats accounts for a great deal of the growth, although digital now accounts for 41% of the Italian market.

Physical sales in 2015 totaled €88m, up 17% from €75m the previous year. Physical now accounts for 59% of Italy’s music market. Vinyl accounted for €6.8m, almost doubling last year’s figure. Vinyl now represents roughly 4% of the total market.

Digital subscription revenues were just under €27m, up 63% on 2014. Ad-supported services, including YouTube, generated just over €14m ($16m), up 38% from €10m in 2014. Download sales fell by 5%, in line with the global trend, to a total of €19m. Combined digital revenues came to €60m – a rise of 29%.

Italy is the 10th biggest music market in the world, generating €206m in trade revenue in 2014 across sync, performance rights and music sales.

–According to MusicWeek