Streaming leads to further market growth
In the first half of 2024, the German music market grew by 7.6% compared to the same period last year. Physical sound carriers are becoming less and less in demand.
According to the German Music Industry Association (BVMI), a total of EUR 1.136 billion was generated from streams, CDs, downloads and vinyl from January to June 2024 inclusive, an increase of 7.6 percent compared to the same period last year (first half of 2023: EUR 1.056 billion).
Demand for physical sound storage media fell significantly by 11.9%. CDs (down 22.5 percent) still contributed 8.1 percent to total sales, while vinyl achieved a market share of 5.9 percent following renewed growth of 5.4 percent.
The physical business - CDs, vinyl, DVDs and singles - now accounts for 14.7 percent of industry sales, while the digital market, which gained 11.9 percent, accounts for 85.3 percent. As in previous years, revenue from audio streaming continues to be the driving force here (up 12.7%); downloads fell by 16%.
