Sweden keeps on proving itself as the beacon of light for the global music industry: in 2012, recorded music income in the territory grew 14% to SEK 943 million (£90.8m).
According to the Swedish Recording Industry Association (GLF), streaming services, led by local success story Spotify, claimed 90% of all digital income, up from 82% the prior year.
In turn, 2012 digital income accounted for 63% of total market revenues, and was up 12% year-on-year.
Ludvig Werner, CEO, International Federation of the Phonographic Industry (IFPI) Sweden said: “It’s very pleasing to see that 2012 was the best year for music sales since 2005. This is a clear sign that more consumers are paying for their music consumption than for some time. Now everyone can consume music legally in whatever way they choose: streamed, downloaded or on CD.
“We hope that a recovering market for music will encourage artists and music companies to release more music and that in turn our entrepreneurs will create even more and better services for music consumption.”
Don’t You Worry Child by Swedish House Mafia (pictured) with John Martin was the biggest No.1 hit of 2012 in Sweden, claiming 13 weeks atop the country’s single chart.Music Business Worldwide