According to a newly released report from trade group BVMI, Germany’s music industry experienced solid growth in 2019, including a double-digit jump in vinyl sales.
Especially interesting is that even though Germany speaks a different language, is located on a different continent, and has a population that’s less than one-third the size of America’s, its 2019 music-industry numbers bear a striking resemblance to the U.S. figures that were recently reported by the Recording Industry Association of America (RIAA).
To begin, Germany’s overall music earnings, including revenue from both sales and streaming, hiked by over eight percent from 2018 to approximately $1.8 billion (€1.6 billion). During the same period, America’s music industry earnings grew by about 13 percent.
Additionally, digital revenue comprised the majority (64.4 percent) of Germany’s music earnings, and streaming made up over half of these profits; 27 percent more individuals streamed music than in 2018. While America’s 2019 streaming income made up substantially more of the market earnings (about 79 percent), the global trend towards streaming is worth noting; German and American music fans are turning to digital listening in droves.
Germany’s CD sales were over 10 percent lower than in 2018 (America’s CDs sold 12 percent less than the prior year), and vinyl sales experienced a double-digit increase in both nations (13.3 percent for Germany and 19 percent for America). Vinyl now accounts for about five percent of Germany’s total music-industry revenue, with the medium representing a nearly identical four-and-a-half percent of America’s total music-industry profits.
While there are differences between the performances and outlook of the music industries in Germany and America, it’s important that both are seeing an increase in total revenue, streaming, and vinyl sales, with fewer and fewer individuals buying CDs.
Regardless of that downward spiral, CDs still accounted for roughly 30 percent of Germany recorded revenue total last year. Tack on vinyl and the total is approximately 35 percent.
– Dylan Smith (Digital Music News)