Streaming services save the music industry in Spain
According to Promusicae, during the first half of 2015 it recorded sales of 70.6 million euros, 10.9% more than the previous year during the same period, a figure entirely attributable to streaming services, which grew 40% for audio services.
The rise of streaming music services across platforms like Spotify, Deezer, Napster or Vevo, to name a few, has managed to overcome the physical digital support for the first time with 53.9% in revenue for the music industry.
Cumulative revenues for the streaming, 30.6 million euros are already very close to the sales generated by the CDs and vinyl.
According to the International Federation of Phonographic Industries, Spain ranks 13th in the global music market. Let’s see if this positive trend continues in the remainder of the year, but to achieve it, It’s necessary a subscriptions growth and see which way the recent appearance of Apple Music contributes to this success.