An independent report by Rambøll Management Consulting has laid out Norwegian music revenues for 2014 (note, not 2015 – this came out in December) combining the country’s recorded and live music markets.
The key figure is $395.5m: the overall turnover for the music industry in Norway in 2014, which includes $191.6m from recorded music and royalties, and a further $203.4m from concerts.
Music Norway’s Erlend Buflaten has published an English-language blog post analysing the findings, noting that while the overall figure was down 2% from 2013, it was up 7% compared to 2012.
“In 2014 streaming accounted for 77 percent of total sales of recorded music, compared to 67 percent in 2013 and 46 percent in 2012,” he wrote. “Revenue from streaming has increased by 78 percent from 2012 to 2014.”
Sources in Norway are optimistic about the report’s findings: after concern about the performance of local artists in the streaming-dominated economy, we understand progress is being made in boosting the market share of local repertoire once again.
Buflaten told Music Ally that besides adapting to a business model based around streaming, Norwegian labels have also shifted focus from selling albums and singles to ‘selling the artists’ – investing heavily in their live productions, as well as doubling down on efforts to export their shows and music outside Norway.