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.”