The sales of digital music have exceeded those of physical formats, such as CDs and records, for the first time in Finland as digital services accounted for 58 per cent of all music sales between January and June.
Last year, over 60 per cent of music revenues was derived from the sales CDs, DVDs and records.
The music industry, however, expects the share of physical formats to increase this year due to an anticipated rise in sales in the final quarter of the year – and especially during the holiday season.
In spite of the growing popularity of streaming services such as Spotify, the value of music sales decreased by 11 per cent year-on-year in the first half of the year largely due to slumping CD and DVD sales. The sales of records, in turn, continued to pick up – surging by as much as 52 per cent between January and June – but remain relatively insignificant for the entire industry.
The figures are based on information gathered by IFPI Finland from its member organisations.
To an extent, the increase in digital music sales is attributable to the fact that for the first time the figures also include music streamed on Youtube. A survey carried out by IFPI Finland has found that Youtube is the most popular online streaming service, with 59 per cent of respondents saying that they use the popular video-sharing website to listen to music.
Regardless, the radio has retained its position as the most popular medium for listening to music, with as many as 86 per cent of Finns saying that they listen to it on a weekly basis. The most popular device to listen to music, in turn is a car audio system, according to the survey.
With the survey finding that some 68 per cent of Finns have yet to try a single streaming service, IFPI Finland expects streaming subscriptions to increase further. Similarly, over half of Finns have yet to buy music downloads.
In Sweden and Norway, streaming services are more widespread than in Finland.
Ilkka Mattila – HS
Aleksi Teivainen – HT
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Photo: Timo Jaakonaho / Lehtikuva