Denmark: Streaming soars to claim 63% of market
Digital revenues accounted for 82% of music companies’ total turnover in Denmark in the first half of 2014, as total income grew 2%. New figures from trade body the IFPI show that 63% of recorded music revenue in the period came from streaming, with downloads accounting for 19%. Physical sales, including both CDs and vinyl, made up just 18% of total revenues. In total, streaming revenues stood at 117 million Danish Krone (£12.49m) in the six months. This represented an increase of 36m Krone (£3.8m) year on-year, a leap of 44%.
Download sales fell by 33% compared to the first half of 2013, while physical sales fell by 31% over the same period.
However, streaming alone managed to offset these losses, dragging the total market value up from 181m Krone (£19.3m) to 185m (£19.7m).
Jakob Plesner Mathiasen, CEO of IFPI, said: “If we look two years back was streaming just 24% of the market. At present, streaming is up to 63%. It says everything about how crucial adaptability and focus are to the needs of consumers in our industry. “
He added: “The Danes are starting to [adopt] new legal music services for themselves.”
He said shifts in the market may occur in relation to the final figures for the full year 2014, when, among other Christmas sales are included.
Source: Music Week
