The recorded music business in Italy is enjoying a historic moment: market-wide annual revenues increased in 2013 for the first time since 2002.
Figures published by Deloitte for Italy music body FIMI, revenues increased by 4% in 2013 to 117.6 million euros.
That growth stood at 2% in terms of just record sales and streaming revenue – excluding brand partnerships, performance rights and synchronisation deals.
Revenue from digital music increased by 18% to 38.1 million euros. Digital now accounts for 32% of the overall recorded music market in Italy.
This growth was mainly driven by streaming services, which generated a 182% increase in revenues. Meanwhile downloads increased by 6% in value. Music subscription and streaming services now account for 38% of the digital music market in Italy, up from 31% in 2012.
Annual physical music format revenues fell 5% to €79.5 million. Sales of vinyl grew by 6%.
Performance rights income – revenue from the broadcast and public performance of recorded music – increased by 19% in Italy in 2013 to €23.5 million. It now accounts for 19% of the overall recorded music market.
Income from synchronisation deals – music used in films and television adverts – and brand partnerships increased by 3%.
FIMI president Enzo Mazza said: “The digital Italian market is finally becoming stronger and getting closer to the major European markets, even if its progress remains slow considering its own possibilities.”
“We are still in a very fragile moment, because our [industry] has dropped by 70% in the last 10 years.
“Looking at the positive point of view, though, the ability of proposing many different platforms in various segments and for different users matches the consumers interest and enables us to involve fans by using unlimited catalogues,”
[Pictured: Daft Punk, whose Get Lucky was No.1 in Italy for 11 weeks throughout, April, May June and July in 2013]Music Business Worldwide
