Swedish recorded music sales grew by 5% last year to reach nearly SEK 1bn (around $155m), with streaming accounting for around 70% of the total.
That’s according to figures released by IFPI Sweden, and reported on by The Local, which quoted local IFPI boss Ludwig Werner’s pride at the third consecutive year of sales growth in Sweden.
“We do not know exactly how much of the streaming numbers coming from the various streaming services, but we know that there is in principle a dominant player. Spotify has stopped being a brand and become our new format, much like CD or vinyl,” said Werner, although he suggested that more competitors will enter the Swedish market in the next year or two.
“It’s logical. The larger Spotify gets, the more entrepreneurs and businesses will see that there is room in the market for them also. The more profitable an industry is, the more competitors pop up, and I think that’s good.” A note of caution: in 2012, recorded music sales rose by 13.8% in Sweden, so 2013’s 5% rise represents a slowdown.