Image credit: Mathew Schwartz

Years of impactful growth in Italy’s music industry continue in 2024 with impressive results for the first half of 2024.

The Italian music industry continues to demonstrate robust growth, with recorded music revenues surging 15.1% in the first half of 2024 compared to the same period last year. According to data released by FIMI and Deloitte, this surge has propelled total revenues to €202.6 million ($225.9 million).

While the growth rate has slightly slowed down form the 18.8% increase recorded for the entire year of 2023, it remains a significant achievement for the Italian music market. Premium streaming subscriptions have been a major driver of this growth, expanding by 23% in the first half of 2024.

Streaming now accounts for a substantial 81% of the overall music market in Italy. Despite the impressive growth in streaming revenues, the volume of streams is expanding at an even faster pace.

A total of 46 billion streams were recorded in the first half of 2024, a 31.7% increase compared to the previous year. This indicates a growing appetite for music consumption among Italian listeners.

FIMI also highlighted the strength of local artists in the Italian music scene. The top 20 albums and singles in the country during the first half of 2024 were all by Italian musicians, showcasing the talent and popularity of domestic artists.

The continued growth of the Italian music industry is a positive sign for the country’s cultural landscape. As streaming platforms continue to expand and new artists emerge, the market is poised for further development and success.

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