Music sales rise 21.2% in Spain in 2014
Success of Pablo Alborán, Bisbal, El Barrio and the streaming boom explain the upturn, first one of XXI century.
- ‘Terral’ places the romantic Malaga Singer-songwriter at the top of the albums lists for the fourth year in a row
- Enrique Iglesias ‘Bailando’ feat. Descemer Bueno and Gente de Zona, is the most streamed and downloaded song
Spaniards spent a total of 149.9 million euros in recorded music in 2014, a figure that overcomes in 21.2% those registered last year, and represents the first upturn of the industry in this century, after hitting bottom in 2013 with 12 consecutive years of uninterrupted decline. The confluence of new albums of very popular artists (particularly Pablo Alborán, Bisbal, El Barrio and Fito & Fitipaldis) together with the boom of streaming explain this improvement. Spanish recording market thus places in a level similar to that of 2011, according to the yearly economic report made by Promusicae, representative of music producers gathering 90 percent of the industry in Spain.
It is good news for the phonographic industry, for the first time since 2001. Year 2014 closes with an encouraging balance, as these almost 150 million euros invoiced represent an important step forward compared to 123.6 million of 2013, the worst year ever for the industry. The balance of powers between physical and digital markets tends to a point of equilibrium: carriers such as CD and vinyl get 58% of the market, while downloads and online streams represent the remaining 42%.
This improvement is a ray of hope after 12 years of scourge for the industry, which entered the century with revenues of 626 million euros. The situation “is still, obviously, very fragile, after a collapse of the market of 80% in the last years” according to the diagnose of Promusicae President, Antonio Guisasola. He added that “the favourable performance of new digital consumption models bodes well in spite of the really modest figures, far from what should occur in a country with such a cultural strength as Spain”. But this “shy improvement”, in his view, “shows the enormous diversification and vindication effort of a sector that starts bearing fruits, even in adverse economic circumstances as today’s and with the serious piracy problem still far from being solved”.
Streaming, add-supported and subscription music offered by platforms such as Spotify, YouTube, Napster, Vevo, Deezer and XBox Music, has given revenues of 47.2 million (36.3% more than 34.6 million revenues of 2013), increase to a great extend underpinned by the 30% growth in the number of subscriptions. The rise of this kind of consumption coincide with the deadlock of song and album downloads in iTunes or similar services (14.2 million, 2% less compared to 2013), while mobile products such as ring tones or ring back tones only generate a scarce 1.4 million, with a year-on-year drop of 20%.
Regarding physical sales, format CD has succeeded in slowing the slump and 11.6 million units were sold, 22% more than previous year (9.5 million). Simultaneously, the return of vinyl as the favourite format of music lovers and collectors continuous to consolidate. 260,000 album vinyl sold are still a discreet figure, but reveals a rise of 85.7% compared with 140,000 vinyl sold in 2013.
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2014 Charts are available here.
2014 Recorded Music Market Report is available here.