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Streaming Propels French Recorded Music Market To First Growth In 15 Years

PARIS, France (CelebrityAccess) — France's market for recorded music has seen it's first growth in more than 15 years, according estimates in a report released by National Union of Phonographic Edition (SNEP).

According to SNEP, the lion's share of the market sector's growth comes from streaming revenue, particularly bolstered by the growth of revenue linked to subscription-based services.

SNEP estimated that French music fans listened to more than 28 billion tracks via audio streaming platforms in 2016, an increase of 55% over the previous year.

2016 also proved to be a banner year for French artists, who laid claim to 18 of the top 20 best-selling albums in the market for 2016, including Sia’s Cheap Thrills.

"The French market is finding it's color and has the means to build its future. This strong growth is the just reward for a decade of work and investment of producers, artists and their music industry partners to adapt to the new digital landscape," says Stéphane Le Tavernier, Chairman of SNEP. – Staff Writers