New figures published by Spanish industry body Promusicae show a strong bounce back for the country’s recorded music market, after Covid-19 reined in its growth in 2020.
The body says that revenues grew by 22% in the first half of 2021 to nearly €170m, after growth of 4.4% in 2020. Streaming is more than 70% of those revenues, but there was growth in the first six months of 2021 for sales (up by 22%) and video streaming (up by 38%).
A separate Promusicae study outlines some of the dynamics at work in the Spanish market. The number of paid subscribers is “less developed than in other neighbouring countries”, with the popularity of ad-supported free streaming meaning that Spain generates “significantly less income per capita” for recorded music than other European countries.
However, the report notes a strong demand for music – an average of 20 hours a week of listening compared to the global average of 18.4 hours.
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