NORWAY (VIP NEWS) — Recorded music income was up a healthy 7% in Norway in the first half of 2015, with streaming finding yet more growth to heavily dominate the market.
Total revenues stood at 305m NOK (€34.2m), up from 285m NOK (€32m) in H1 2014.
According to IFPI stats, Norway was the 15th biggest recorded music market across last year. Ahead of the likes of China, India, Belgium and Switzerland, it amassed US $119.9m (756.6m NOK) in the 12 months.
In the first half of 2015, income from streaming rose 12.7% from 220m NOK (€24.7m) to 248m NOK (€27.9m).
Revenues from the various streaming services now account for 81% of total turnover, compared to 77% in the first half of 2014.
Streaming wasn’t the only good news story in the first half of 2015, either: physical sales rose slightly to 36m NOK (€4m), Compared with 35m NOK (€3.9m) in H1 2014.
The increase was due to a jump in sales of vinyl of nearly 3m NOK, to 8.7m NOK (€0.98m).
As such, vinyl now accounts for almost a quarter (24%) of all physical music product revenue in Norway.
Sales of artists signed to Norwegian record companies increased to claim 25% of the market by value.
On streaming services alone, these artists took 22%.
