Italian recorded music revenues grew 27.8% in 2021 to achieve $392.4 million (€332m), up €72m ($85m) versus 2020, when the market generated €259.89 million ($296.3m) in recorded music revenues.
That’s based on FIMI, the group that represents the nation’s recorded music business.
The publication of Italy’s recorded music revenues for 2021 coincided with yesterday’s (March 22) launch of IFPI’s World Music Report, during which it was revealed that Italy is now ranked at No.10 on the checklist of the Prime 10 greatest music markets globally.
In Italy, paid subscription streaming revenues rose by 35.6% in 2021 to high €141.7 million ($167.5m) versus €104.5 million ($119.1m) in 2020.
The Complete streaming section (together with revenues from video, paid and ad-supported streams) reached €208.4 million ($246.3m) in 2021, up 24.6% YoY, from €167.3 million ($190.7m) in 2020.
Inside Italy’s bodily revenues, CD and Vinyl gross sales noticed an uplift in 2021, following a stoop in 2020 because of the closure of shops throughout the pandemic.
CD gross sales grew 10.6% from €24.1 million ($27.4m) in 2020 to €26.7 million ($31.5m) final 12 months, whereas Vinyl gross sales soared 78% to €26.8 million ($31.6m), in comparison with €15 million ($17m) in 2020.
Different bodily codecs, corresponding to audio cassettes, noticed their revenues elevated by 245% YoY in 2021 to €686,000 ($810,000).
Complete bodily gross sales grew 37.87%, from €40 million ($45.6m) in 2020 to €55.2 million ($65.2m) in 2021 (see beneath).
Elsewhere out there, efficiency rights revenues rose 37.2% to €52 million ($61.4m) in 2021.
Synchronization revenues, in the meantime, elevated 36.4% from €7.5 million ($8.5m) in 2020, to €10.3 million ($12m) in 2021, passing the €10 million mark for the primary time, based on FIMI.
FIMI stories additional that Italian customers reached over a billion streams each week in 2021.
Moreover, citing IFPI analysis, FIMI says that in 2021, Italian customers spent over 19 hours per week listening to music, with 45% of them via a premium account. FIMI says this share rises to 57% in individuals aged 16 to 24 years.
Different notable stats revealed by FIMI this week are that in 2021, 479 albums from 302 artists surpassed 10 million streams.
In keeping with FIMI, in 2011 solely 134 albums by 105 artists exceeded the equal threshold of 10,000 copies (bodily & downloads).
The publication of Italy’s recorded music revenues follows stats launched by FIMI in January, which confirmed that each album within the Prime 20 of the nation’s home album chart for the total 12 months of 2021 was from an area artist.
Moreover, “for the primary time ever”, based on FIMI, the total Prime 10 of its Singles Chart for the 12 months was additionally comprised solely of Italian acts.
“This was a very sturdy 12 months for the Italian music market.”
FIMI
In a press release, FIMI mentioned: “This was a very sturdy 12 months for the Italian music market: these outcomes affirm the extensive investments on Italian artists and new younger skills by native file labels. Tax credit for brand spanking new productions, moreover, positively had optimistic results.
“Because of the sturdy innovation throughout the music business (among the many main segments of Italian digital financial system) profitable alternatives have been created for artists.”
Notice: EUR-USD forex conversions on this story are primarily based on the IRS’s revealed annual common trade charges.Music Enterprise Worldwide
