It’s not long until the IFPI publishes its annual report calculating global recorded music revenues for 2022. But through the figures of individual national bodies, we’re already getting a picture of how last year went for some of the biggest markets.
Germany, for example, saw its recorded music revenues grow by 6.1% in 2022 to €2.07bn ($2.2bn at current exchange rates). Industry body BVMI hailed this as the first €2bn-plus year since 2002, and noted that it was driven by 14% growth in streaming revenues – which now account for 73.3% of the total market in Germany.
“An increase of 6.1% means growth for the fourth year in a row,” said BVMI boss Dr Florian Drucke, adding that the €2bn milestone was “more than just symbolic value”. He also looked forward to more growth from recent price increases in streaming subscriptions, as well as “how short-form videos will be monetised even more”.
Lots of positivity, although one cloud is the fact that 6.1% represents a deceleration in growth from the 10% increase seen in Germany in 2021.
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