Denmark’s recorded music industry posted its biggest annual income for four years in 2014, growing 1.8% to DKK 437m (€58.6m).
This represented growth for the second year running in the market – it was up 5.2% in 2013.
In 2014, a 50.5% jump in revenues from streaming services saw the sector account for 58.5 % of total revenue.
Streaming revenues generated DKK 256m (€34.4m). Income from services such as Spotify, WiMP, Play and Deezer have increased 50.5 % in a year.
CD revenues decreased 26.7%, claiming 23.8 % of the market.
Meanwhile, downloads decreased 36.1%, accounting for 15.8 % of the total revenues from recorded music in 2014.
Vinyl sales increased 27.9 % and now account for 1.7 % of all market revenues.
Henrik Daldorph, chairman at IFPI Denmark, is satisfied with the numbers: “The music industry has experienced comprehensive changes these last couple of years. But no matter how hard the winds have blown, we have kept the eye on the ball; wanting to give the consumers great digital opportunities.
“It’s been a bumpy ride. However, the continued growth in the Danish recording industry shows us that we are headed in the right direction.”
Music Business Worldwide