2022 saw interesting growth in the Japanese music industry streaming sector
Image Credit: RIAJ
Japan generated half a billion dollars from music streaming subscriptions and saw streaming revenues rise 25% in 2022.
When it comes to streaming music, for Japan the rise in online services has been slower than other regions. CDs are still the dominant format. However, the Recording Industry Association of Japan reports that music distribution sales in the country have grown for the ninth consecutive year.
2022 saw record total sales, rising above 300 billion yen for the first time in four years. And music streaming’s share of the market grew to 88%, up 125% from 2021.
Within the music streaming sector revenue growth of 19% came from subscriptions to streaming platforms like Apple Music and Spotify.
The COVID pandemic may have been a factor in the increase in music streaming in Japan, with stats showing growth since 2019. Streaming offered a convenient way to discover and access new music during lockdowns when stores shut down.
Growth is slow but noticeable, and seems to indicate a gradual shift from physical sales to streaming in the country; but there’s a way to go yet before streaming becomes the dominant fromat.