Music streaming had a stellar year in Finland in 2014, with industry income from subscription and ad-supported services such as Spotify leaping up 38% to €16m.
However, the overall recorded music market in the territory was down; on a wholesale basis, annual industry income fell 14% to €35.9m from 2013’s haul of €41.8m.
Following a similar pattern to that seen in sister countries Norway and Sweden, the main culprit for this decline was a huge slide in CD sales, according to IFPI data.
Income from physical sales in Finland in 2014 fell by 33.8% to just €17.1m from 2013’s €25.9m.
CD album unit sales fell by 28.8% to 2.5m – a gentler decline than that of income, suggesting that average album prices are being reduced the in the country.
Vinyl unit sales increased 13.6% to 82,300.
There was much better news in the streaming world, helping digital sales accounted for more than half (51%) of Finland’s recorded music income for the first time.
Subscription streaming services enjoyed a 19.6% rise in value, bringing in €13.8m as opposed to 2013’s €11.5m.
But the headline growth was in ad-supported income, including YouTube: revenue from this category of services shot up by 1,354% to €2.3m from just €159,000 in 2013.
Download sales fell significantly, however, with income dropping 29.2% to €2.02m.
That now means that ad-supported streaming is bigger than the download market in Finland – and the subscription streaming market is seven times its size.
The IFPI‘s Antti Kotilainen said: “We have been slower than in the other Nordic countries [with streaming], so we expect the overall market to grow this year.
For consumers, the current situation is really good , as recorded music has never been so broad , versatile and available in many different ways.”
According to IFPI stats, Finland was the world’s 21st biggest recorded music territory in 2013.
[Pictured: Coldplay, whose Sky Full Of Stars was one of a handful of English-language tracks to hit No.1 in Finland last year]Music Business Worldwide