France’s recorded market returned to significant financial growth for the first time in 15 years in 2016.
Record businesses annual revenues in the territory have been cut in half over the past decade, down from €965.9m in 2005 to €426m in 2015.
Finally, this trend has been reversed, according to local trade body SNEP – largely thanks to ‘particular growth in revenues linked to subscriptions’.
Although full figures from the French market won’t be revealed until February 28, SNEP has revealed that audio streaming platforms in the nation attracted 28bn plays in 2016 – up 55% on the year before.
We also know that at the half-way stage of last year, France’s wholesale recorded music market was up 6%.
If that trend carried for the whole of 2016, the territory would have turned over more than €450m ($486m).
“The French market is recovering its colors and giving itself the means to build its future,” said Stéphane Le Tavernier, President of SNEP.
“The French market is recovering its colors and giving itself the means to build its future.”
Stéphane Le Tavernier, SNEP
“This strong growth is the just reward of a decade of work and investment of producers, artists and their partners in the music industry to adapt to the new digital reality, ”
French artists, claimed 18 of the Top 20 best-selling albums of 2016 (including equivalent sales), but the most-streamed track in the country last year was Sia’s Cheap Thrills (ft. Sean Paul, pictured).
According to IFPI, France was the world’s fifth biggest recorded music market in wholesale terms in 2015.
The trade body estimates that $809.1m (€728.2m) flowing to record companies and artists in the year – putting France behind the US (No.1), Japan (No.2), Germany (No.3) and the UK (No.4) and ahead of Australia (No.6) and Canada (No.7).
Music Business Worldwide