Continued Growth In Danish Music

Recorded music in Denmark grows for the second year running. Thereby, consumers now reward the music industry for its digital strategy. This is the conclusion of IFPI Denmark’s annual report being published today. The Danish recording industry has within recent years worked focused to mature digital opportunities for Danish music consumers. This investment now seems to pay off. In 2014 the revenues from recorded music totalled DKK 437 mio. This is a 1.8 % increase compared to 2013 and at the same time the highest annual turnover since 2010.

The growth is a result of increased revenues from streaming services accounting for 58.5 % of the total revenue in 2014. Streaming revenues generated DKK 256 mio. Thus, revenues from services such as Spotify, WiMP, Play and Deezer have increased 50.5 % in a year.

The growth happens in spite of the fact that revenues from CDs and downloads have been reduced. CD revenues decreased 26.7 % and CD sales now hold 23.8 % of the market. At the same time, download decreased 36.1 % and accounts for 15.8 % of the total revenues from recorded music in 2014. Vinyl sales, on the other hand, increased 27,9 % and now accounts for 1.7 % of the market revenues.

Henrik Daldorph, chairman at IFPI Denmark, is satisfied with the numbers: “The music industry has experienced comprehensive changes these last couple of years. But no matter how hard the winds have blown, we have kept the eye on the ball; wanting to give the consumers great digital opportunities. It’s been a bumpy ride. However, the continued growth in the Danish recording industry shows us that we are headed in the right direction.”

Key Numbers
* Total market up by 1.8 % from DKK 429 mio. in 2013 to DKK 437 mio. in 2014.
* Streaming up by 50.5 % from DKK 170 mio. in 2013 to 256 mio. in 2014.
* CD sales down by 26.7 %, download down by 36.1 %
* Market shares based on formats: Streaming: 58.5 %, CD: 23.8 %, download: 15.8 %, vinyl: 1.7 %, DVD: 0.2 %.
* Growth in 2013: 5,2 %.

Source:
IFPI Denmark