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The consumption of recorded music in Finland exceeded 100 million euros in 2022, according to the International Federation of the Phonographic Industry (Musiikkituottajat - IFPI Finland ry). The recorded music market continued to grow for the eighth consecutive year, and the total value of wholesale sales of recorded music in Finland in 2022 was 73.6 million euros, which represents a growth of 6.3 percent from the previous year.

The growth in the market was driven by the increase in revenue from streaming services, which saw their share of the recorded music market in Finland increase by 9.1 percent in 2022. Streaming services now account for almost 91 percent of the recorded music market in the country.

However, the sales of physical recorded music declined after a year of growth, with a decrease of about 13 percent compared to 2021. Vinyl record sales generated more revenue than CD sales for the second year in a row, making vinyl the largest physical recorded music format. The share of physical recorded music in the recorded music market in 2022 was about 9 percent.

These figures are based on data published in the IFPI's Global Music Report 2023, which includes data collected by IFPI's member companies, as well as performance, synchronization, and licensing royalties, as well as data collected in compiling the Official Finnish Chart, and estimates of sales by companies outside of IFPI.

IFPI's member companies accounted for 76 percent of the recorded music market in Finland in 2022.

The year 2022 was strong for domestic recorded music releases, with the share of Finnish music increasing by 3 percent from the previous year to 34 percent of the recorded music sales by IFPI's member companies. The best-selling album and the most-streamed song of 2022 were also Finnish.

Universal Music continued to be the largest music company in Finland, with a market share of 35 percent based on the total sales of IFPI's member companies. Sony Music Entertainment Finland was the second largest company with a share of 30 percent, and Warner Music Finland was third with a market share of 29.3 percent. Among the independent labels in Finland, the largest was Playground Music with a share of 4.4 percent.

The market share figures also include the distribution of music produced by independent labels through multinational companies. The share of independent labels in the total consumption of Finnish music was about 27 percent in 2022.

Top 10 most-streamed songs in 2022:

  1. BESS - Ram pam pam / Universal Music Finland
  2. JVG - Amatimies / PME Records / Warner Music Finland
  3. Ramses II - Villieläin / Kaiku Entertainment
  4. Gettomasa - Shamppanjadieetillä (feat. Van Hegen) / PME Records
  5. Olli Halonen - Pohjola / Mökkitie Records / Warner Music Finland
  6. Harry Styles - As It Was / Erskine Records / Columbia / Sony Music
  7. El Migu - Erilainen / Sony Music Finland
  8. Isac Elliot - 20min (feat. william & Cledos) / Def Jam Recordings Finland / Universal Music Finland
  9. Tom Odell - Another Love / Columbia / Sony Music Entertainment
  10. Haloo Helsinki! - Reiviluola / Vallila Music House

Top 10 best-selling albums in 2022:

  1. Gettomasa - Vastustamaton / PME Records
  2. JVG - Mun tapa pelata / PME Records / Warner Music Finland
  3. Harry Styles - Harry's House / Erskine Records / Columbia Records / Sony Music
  4. Ed Sheeran - = / Warner Music
  5. Haloo Helsinki! - Älä pelkää elämää / Vallila Music House / Sony Music Finland
  6. VIIVI - Parisuhdehautausmaa / Capitol Records / Universal Music Finland
  7. BEHM - Draaman kaari viehättää / Warner Music Finland
  8. Imagine Dragons - Mercury Acts 1&2 / Universal Music
  9. The Weeknd - After Hours / Universal Music
  10. Olivia Rodrigo - SOUR / Universal Music

Top 10 best-selling vinyl records in 2022:

  1. Ghost - Impera / Universal Music
  2. J. Karjalainen - Soulavaris / Warner Music Finland
  3. HIM - Greatest Love Songs Vol. 666 / RCA Records Label / Sony Music Entertainment Finland
  4. Harry Styles - Harry's House / Columbia / Sony Music Entertainment
  5. Hurriganes - Rock And Roll All Night Long / Johanna Kustannus / Siboney / Universal Music
  6. Nightwish - Oceanborn / Spinefarm FI / Universal Music Finland
  7. Amorphis - Halo / Atomic Fire Records
  8. Apulanta - Kolme / Levy-Yhtiö / Backstage Rock Shop
  9. Huora - Älä luovuta / Backstage Rock Shop
  10. The Hellacopters - Eyes Of Oblivion / Nuclear Blast Records

Overall, the recorded music industry in Finland continued its growth trend in 2022, driven by the increasing popularity of streaming services. The domestic music industry also had a strong year, with Finnish music accounting for a significant share of the recorded music sales. The rise of vinyl records was also noteworthy, with vinyl outselling CDs for the second consecutive year. The positive trend in the Finnish recorded music market is expected to continue in the coming years, with the industry poised for further growth and innovation.

Musiikkituottajat - IFPI Finland ry is the umbrella organization for record producers in Finland, whose purpose is to develop the operating conditions for the Finnish music industry and record producers.

HT

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