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Norwegian music industry’s export facilitator and promotional organisation.

Scandinavia is the 6th largest market for recorded music in the world

By Erlend Buflaten Posted: 09. May, 2017

AURORA

Combined, the countries saw revenues increase 8,4% from 2015, to $416,2 mill.

An analysis conducted by Music Norway, based on the newly released Global Music Report, highlights Scandinavia’s impact in the global music market. Although three relatively small countries in size and population, Scandinavia, comprised of Norway, Sweden and Denmark, is one of the biggest markets in the world for recorded music. Combined, the countries saw revenues increase 8,4% from 2015, to $416,2 mill.

This puts Scandinavia ahead of Canada ($367,98 mill), with only heavyweights USA, Japan, UK, Germany and France before them. Individually, Sweden ranks at 13, with Norway and Sweden close behind at 18 and 21.

Combined the three countries have a population of 20,8 million, making it stand out as a huge market for recorded music, looking at per capita use. Norwegians spent an average $21,68 on recorded music, more than any other country in the world. Sweden and Denmark are close behind with $19,47 and $19,59.

Streaming dominates the three countries’ total revenue, accounting for more than 55% of total revenue in all three countries.

– Increased revenues from streaming has increased investments in the Nordic music industry and contributed to improved investments in local repertory. It has been a positive circle, where technology has stimulated finding and developing new talent, which again contribute to more talent development and innovation, says Kathrine Synnes Finnskog, Managing Director of Music Norway.

From experience, Music Norway see that Scandinavia and the Nordic music market are looked upon as one market. Cooperation and partnerships between the countries are increasing, especially through the joint network body NOMEX, which amongst other things produce the popular Nordic showcase club night Ja Ja Ja in London and Berlin and organize trade missions to key markets for industry professionals.

A key factor here is how the Nordic region adapted to a streaming economy at an early stage. With Tidal developed in Norway and Spotify in Sweden, consumers in the territory have had streaming services around for years already. This made the Nordic region one of the first to turn around ongoing decline in revenue, with a substantial growth from 2012.

Around the world, Scandinavian artists, songwriters and producers are establishing themselves as recurring names on charts and with the industry. Artists, songwriters and producers like Kygo, MØ, Lukas Graham, Alan Walker, Max Martin, Seeb, Stargate, Bjørk, Of Monsters and Men, Nightwish, and Zara Larsson are familiar names around the world.

There are also more reports that compares the Nordic countries, showing a steady or growing economy in all countries, high percentage of digital revenue and confirm the notion of more and more Nordic export to the rest of the world.

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