French industry body SNEP has published its official market figures for 2019, and they showed an acceleration of growth. In 2018, France’s recorded music market had grown by 1.8%, but last year that kicked up a notch to 5.4%. That’s an overall turnover of €772m (arond $839.7m) with streaming accounting for 57% of those trade revenues.
SNEP called out an 18.5% increase in revenues from premium subscriptions, which meant they overtook CD sales as the French (recorded) industry’s biggest source of revenue. “There are now 9.4 million French people who listen to music via paid streaming,” revealed SNEP. That’s more than 10% of the population, with an increase of 1.7 million in 2019.
Like other industry bodies, SNEP was keen not to seem over-triumphant, pointing out that combined digital and physical sales of €625m in 2019 (that’s less than the headline €772m figure, which also includes neighbouring rights and sync) means the industry is only back up to 2010 levels, and still well down on the €1.43bn annual sales in its heyday in 2002.
SNEP also noted another big year for homegrown artists: 19 of the 20 biggest albums in France last year were produced there, with French-speaking artists. Meanwhile, French-produced acts accounted for 80% of the top 200.