Sweden’s music industry – across records, publishing and live performance – hit new heights of success last year.
According to a new report from industry association Musiksverige, revenues in the Swedish music industry reached 9.2 billion kronor ($1bn) in 2015 – a 13% increase from the previous year.
Since 2010, Musiksverige has developed and presented statistics showcasing the financial performance of the Swedish music industry in the form of revenue generated via legal distribution channels within domestic and export markets.
In six years, annual revenues have grown by 40%, thanks to stars like Zara Larsson (pictured).
The report analyzes trends within the Swedish music industry based on copyright revenue (licensing), revenue from recorded music and concert revenue.
The largest share of revenues, 4.8 billion kronor ($540m), came from the concert market last year – accounting for about half of the industry’s total income.
“Our mission is to create the best possible conditions for a sustainable future for swedish music.”
Linda Portnoff, Musiksverige
The 14 percent increase in concert revenues was the largest year-on-year jump since Musiksverige started collecting data on the revenue developments back in 2007.
Copyright revenue [licensing], which is the next biggest share of total music industry revenue, generated 2.3 billion kronor ($260m), an increase by 7%.
Music sales were up 12 percent to 2 billion kronor ($230m).
Yet concern continues over the ‘superstar economy’ and what it means in the market for up-and-coming artists/songwriters.
“We’re trying to strengthen local acts that have an increasingly hard time reaching listeners who now consume music through popular playlists dominated by international acts,” says Linda Portnoff, head of Musiksverige.
“Our mission is to work to create the best possible conditions for a sustainable future for Swedish music. That involves, among other things, a deep respect for creator’s rights and a better venture capital and financing structure for small and medium-sized companies”, says Portnoff.Music Business Worldwide
