The recent Global Music Report published på IFPI shows Norway as the 20. biggest music market for recorded musicwith a trade value of $105,9M (855m NOK). This is an increase of 2,6 per cent compared to 2014.
The music market in Norway is bigger than those of Denmark ($100,8M), India ($92,7m) and Russia ($51,7m).
Digital dominated the Norwegian music market, accounting for 64 per cent of total trade value, compared to physicals 13 per cent. Only China (10 per cent) and Sweden (12 per cent) have a lower share of physical trade value than Norway.
Norwegian market compared to global average
2015 marked the digital revenues surpassed physical, with 45 per cent of global revenues with physical’s 39 per cent. A large increase in revenues from streaming services of 45,2 per cent drives the total increase in digital revenues up 10,2 per cent compared to 2014.
With a high penetration of streaming service subscribers, digital revenues stands for 64 per cent of the Norwegian music market in 2015.
As we’ve written before, in 2014 streaming accounted for 77 per cent of total music sold and in 2015 over 1,5 million Norwegians paid for a streaming service.
Looking at year-on-year changes, 2015’s numbers ($105,9M / 855M NOK) barely surpass the numbers from 2013 ($105,9 / 854,6M NOK) when the market grew by 9 per cent.
The Norwegian music market has grown 13,6 per cent ($12,6M) since 2011, with a steady increse in revenues from streaming services driving the increase.
As seen in the graph above, synchronisation revenue stood for only $0,1M in 2015, a 95 per cent decrease from 2014 where the revenues from synchronisation was $2M. This is far below the global average of 2 per cent.
Globally physical revenues declined 4,5 per cent from 2014 to 2015, but in Norway physical revenues saw a small increase of 1,5 per cent
Performance rights revenues continue to rise
Revenues from perfomance rights rose to $24,6M in 2015, up from $23,6M in 2014. Performances rights revenues have increased every year since 2011 and now accounts for 23 per cent of the Norwegian music market.
These numbers are high compared to the global average, where performance rights revenues account for 14 per cent of the market.