France’s music market won’t stop growing as streaming income reaches €243m

Streaming is driving growth in music industries all around the world and France aren’t missing out on the gains.

According to the latest from the SNEP France’s music market saw a 23% growth last year. That brought streaming profits up to €243 million in 2017, an increase of €46 million on 2016. Streaming now counts for 41.6% of the market.

Of the €243 million in streaming revenue, premium subscriptions accounted for €203 million and the remaining came from ad-supported music streams. Whilst Premium is clearly making up the most of the revenue free streaming actually saw the biggest growth in France last year. Subscriptions rose 21% to 4.4 million subscribers whilst ad-funded streaming grew by 33%

Overall the French music market grew by 3.9% to a total of €723 million with physical music still accounting for the majority, 51.2%. The vinyl resurgence has a large role in music revenue accounting for 12.2% of overall profits. Out of the overall music market revenue including sync licensing and performance rights physical music makes up 41% and digital accounts for 39%.

The general director of SNEP, Guillaume Leblanc says: “The efforts of the producers and the whole industry are paying, this recovery is encouraging, but it is fragile. We are starting to rebuild a value, but we are still far from the peak reached in 2002. This growth must be confirmed over time.”

iHeartMedia have filed for bankruptcy to clear $20bn in debt

After weeks of uncertainty iHeartMedia are moving to resolve their massive debt by filing for bankruptcy. The past few weeks have been a tumultuous time for iHeartMedia Inc, owners of highly successful radio streaming platform…

Spotify planning to list shares on NY Stock Exchange next month, reports say

After rumours of an upcoming IPO for Spotify have circulated for more than a year Spotify are reportedly now taking a new approach. A report from Bloomberg this week suggests that as early as the…

Leave a Reply

Your email address will not be published. Required fields are marked *