IFPi Norway released its semi-annual report last week showing an increase of 7,8% increase in music sales in the first six months of the year. Streaming services are driving the growth as income from Spotify, Tidal and Apple Music increased 30m NOK from 248m NOK to 278m from the first half of 2015 to the first six months of 2016.
In total it was sold music for 333m NOK in the first six months of the year as opposed to 309m NOK in the same period of 2015.
Physical sales continue to grow as well. Although a relatively small share of total sales, physical (CDs and vinyl) had a turnover of 43m NOK, compared to 40m NOK in 2016. This makes physical 13% of total music sales, the same share as in 2015.
Vinyl sales grew from 9,9m NOK in 2015 to 14,2m NOK in 2015 and now stands for over 4% of all music sold.
Downloads drops a significant 32%, from 21m NOK in the first half of 2015 to 14m NOK in 2016 and totals just 4% of music sales.
Revenue from video streaming services such as Youtube drops from 4,9m NOK in 2015 to 4,7m NOK in 2016. Video streams account for under 2% of streaming revenue.
Managing director of IFPI Norway Marte Thorsby says she’s worried about the small amounts video streaming sites such as Youtube pays out to rights holders
– When we know 25% of the Norwegian population uses Youtube on a daily basis, it’s far from reasonable that they only pay a fraction of what competitors such as Spotify, Tidal and Apple Music pay to labels and artists. It’s about time we see a legislation that will make all players compete on the same conditions.
In addition to an overall increase in music sales, the share of Norwegian music sold is also increasing. 23% of music streamed in the first six months is Norwegian (music released by Norwegian companies) compared to 22% in 2015. Overall, Norwegian music accounts for 25% of music sold.