Spain is the latest recorded music market with its first-half figures published, courtesy of industry body Promusicae.
It revealed half-year revenues of €214.3m ($229.6m at current exchange rates). That’s up 11.5% year-on-year, with streaming now accounting for 87.8% of the total market.
Spanish streaming revenues grew by 13.3% year-on-year to €188.2m. Promusicae took a pop at video streaming in its release, noting that while video accounted for more than a third of music streams, it only generated 15.7% of the revenues.
In common with several other big markets, vinyl is now bigger than CDs as far as physical sales go, with vinyl sales up 6.3% to €14.4m – 56.2% of the physical market.
Promusicae boss Antonio Guisasola used the announcement to call for more support from the Spanish government: “To decide once and for all to support the Spanish recording industry, so that it does not lose its own boost and can seize the great momentum experienced by Latin music to consolidate its growth in our country and abroad.”