Alongside yesterday’s IFPI Global Music Report, Italian industry body FIMI published its figures for Italy’s recorded music market in 2021. The market saw 27.8% growth year-on-year, with total revenues of €332.1m ($366.1m).
That included 24.6% growth for streaming revenues to €208.5m, thus accounting for just under 63% of the market. There are some interesting trends within that though.
Subscription streaming revenues grew by 35.6% to €141.7m, but ad-supported audio streaming revenues declined by 16.1% to €33.8m. That wasn’t a trend for the whole free music market however: revenue in Italy from video streams (i.e. YouTube) grew by 46.3% to just under €33m.
FIMI noted that Italians are now streaming more than 1bn tracks a week across all those services.
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