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Forecast digital music industry revenue in Spain 2014-2023

Streaming is the new downloading, according to the most recent figures. Most of the revenues generated from the digital music industry in Spain originated in streaming services, with a turnover that amounted to 123 million euros in 2018 that was expected to reach 188 million by the year 2023. These earnings were majorly a result of the distribution of streaming subscriptions, which returned revenues of about 115.3 million euros during the same period.

Physical formats are dead. Long live digital music!

Since the first records in 2006, the sales of music consumed in digital format has only experienced growth, turning the tables of the audio format industry in 2016, year in which sales from music recorded digitally surpassed those of music in physical formats. In 2018, the sales value of digital music in Spain stood at 169 million euros, whereas physical formats amounted to only 65.2 million euros during the same year. This represented a decrease of almost 14 percent in the sales of music in physical formats compared to 2017.

Spotify – the indisputable leader of music streaming

There were more monthly searches on Spotify than on any other music streaming platform in Spain in 2018, as the latest data show. The Swedish media provider clocked up 673 thousand searches per month on its platform in 2018, representing a much larger figure than the runner-up on the list, YouTube, which recorded 74 thousand monthly searches throughout the same year. As reported by almost half of the Spaniards in 2019, these platforms are used mainly in their free-of-charge versions, with only 23 percent of the population having a paid subscription to use their services.

Revenue of the digital music industry in Spain between 2014 and 2018 and forecast from 2019 to 2023

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Sources

Release date

December 2019

Region

Spain

Survey time period

2014 to 2018

Supplementary notes

* Forecast.

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Statistics on "Music industry in Spain"

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