Swiss recorded music market grows
According to IFPI Switzerland, the industry association for music labels, the Swiss recorded music market grew for the seventh year in a row in 2022, with sales of 223.7 million, 4% more than in the previous year.
The streaming segment, which now accounts for 85% of the overall market, remains the growth driver, while sales of downloads and physical sound carriers continue to decline. The moderate growth in vinyl that has continued since 2010 took a break in 2022 and turned slightly negative. On the other hand, streaming short videos with music on social media is now also gaining financial importance.
Together with income from video streaming, namely YouTube, ad-financed music streaming now contributes CHF 24 million (11%) to the Swiss music market, surpassing physical CDs and vinyl (CHF 21.4 million) for the first time.
Original article:
https://www.ifpi.ch/post/schweizer-musikmarkt-2022-noch-gr%C3%B6sser-noch-digitaler-1
