Promusicae has presented today the figures corresponding to the music sales that were registered in our country during the first half of 2021. Specifically, the Spanish dedicated almost 169.2 million euros to the consumption of music, both in digital formats and in the purchase of physical media, income that represents a 22.3% increase for the Spanish music industry compared to the same period in 2020 (138.3 million euros), a period that was marked by the beginning of the pandemic, the closure preventive of non-basic trades and the toughest confinement. Due to these circumstances, the digital market, which came to represent 87% of the total market last year on the same dates, now yields almost 2 points (85.2%) compared to the physical market, due to the elimination of the restrictions of the shops and the gradual recovery of normality. This fact has allowed to reestablish, to a certain extent, the sales of CDs and vinyl that plummeted last year due to the generalized closures. Thus, the sale of physical media went from 18 million in the first half of 2020 to 25 million euros in that of 2021. However, this striking growth in physical sales (39.6%) is considered a “rebound” against to the collapse of last year, (-44.8%) and does not restore sales to the levels of 2019, which were 32.7 million euros, being below these by 23.4%. In other words, the sector stopped entering 14 million in 2020, and in 2021 it only recovers 7, probably as a result of the uncertainty that still remains in businesses, given the different waves of COVID.
Streaming at the top of consumer preferences
The results of the total market are again driven by the good performance of digital consumption, and in particular, streaming, which once again is at the forefront of buyers’ preferences when choosing how to consume their favorite music. The digital market reaches 144 million euros, which implies a rise of 19.7% compared to the previous year (120.3 million). 82.3% of these revenues come from streaming audio, in its modalities of premium subscriptions and financed by advertising, (118.5 million), and 15.5% from streaming video consumption (22.3 million of euros). The remaining only 2% is completed by permanent downloads of songs, albums and videos and products for mobile phones (ringtones and listening). As with the figures that come from physical sales, a more detailed analysis of the impact of the pandemic on the digital and streaming market indicates a considerable reduction in the growth rate that had been observed in previous years. Streaming is growing again this semester, but without achieving the percentage increase in 2019.
Vinyl and CDs
In the slow recovery of the physical market, the new upsurge of vinyl is striking once again, which in its continued boom in buyer preferences grows 74% compared to the previous year. Practically, 43% of the physical discs that are sold in stores are vinyl, contributing on this occasion an income of 10.7 million euros to the global figure. Vinyl is a format that shows some strength, but it is still far from what is observed in other neighboring countries, such as Italy, which, although they have also been strongly shaken by the pandemic, in the same period they have practically managed to triple their vinyl sales, bringing total physical sales to levels even higher than before the pandemic. Meanwhile, the CD remains a faithful solution for those who prefer to enjoy digital sound but on physical media. The sale of CDs scores 13.4 million during the first six months of 2021.
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