The latest country to declare its recorded-music figures for 2018 is France, through industry body SNEP. It’s positive news too: a third consecutive year of growth, albeit a “modest” 1.8% rise in 2018.
“For the first time, the revenue generated by digital has exceeded that of physical sales and now accounts for 57% of global sales,” announced SNEP yesterday. “The real driver of this growth is streaming, and especially subscription revenues, which grew by 23% and become the biggest source of recorded-music sales.”
What’s more, paid streaming subscriptions now account for 41% of French recorded-music revenues, up from 8% five years ago. “Today, nearly one in two music consumers (46%) use an audio streaming service. Of these streaming music fans, 5.5 million now have a paid subscription,” added SNEP. The key figures: the market was worth €735m in 2018, although SNEP was keen to stress that this is “just 40% of the market 15 years ago”. It also pointed out that 19 of the 20 top albums and 80% of the top 200 came from French artists.