Music business

The French recorded music industry exceeded $1 billion in 2021

Recorded music revenue in France, the world’s fifth-largest music market, exceeded $1 billion (€861 million) in 2021, representing 14.3% year-on-year growth and the fifth annual increase consecutive for the market.

That’s according to results released today (March 15) by French trade body SNEP, which include total revenue from physical and digital sales, as well as streaming, neighboring rights and synchronization.

France’s double-digit growth in 2021 eclipsed the 0.1% increase seen by the market in 2020 (the year of the pandemic), when the market generated 781 million euros ($891 million ).

According to SNEP’s year-end report, combined physical and digital sales (omitting neighboring rights and synchronization but including streaming) increased 15.5% year-on-year in 2021 to 729 million. euros ($861.7 million).

Representing 70% of total sales in France, digital revenues (including streaming and downloads) exceeded 506 million euros ($598 million) in France in 2021, marking a growth of 13% or 59 million euros ($69 million), compared to 2020 when the market generated 447 million euros ($509 million) in revenue from music streaming.

Streaming accounted for 97% of total digital revenue in 2021, generating €492 million ($581.5 million), up 15.2% from 2020, when France generated €426 million ( $485.7 million) thanks to streaming.

Paid subscription audio streaming revenue reached €378 million ($446.8 million) in 2021, up 15% from €329 million ($375.14 million) in 2020.

SNEP also reports that the total volume of flows in France in 2021 reached 93.5 billion, compared to 85 billion in 2020.

Meanwhile, there were 22 million audio streaming users in France in 2021, according to SNEP.

Breaking down this figure, SNEP reveals that there were 7.8 million users of ad-supported accounts in the market and 10 million paid subscriptions (with 14.2 million users of premium accounts taking into account also counts family plan and individual premium users).

A closer look at France’s recorded music revenue results in 2021 shows that the market’s overall physical sales reached €223 million ($263.5 million) last year, up 21%, or €39 million ($46 million) from 2020 (see below).

CD sales contributed €139 million ($164.3 million) to that total physical music count, up 9.6% year-on-year.

Vinyl sales, meanwhile, rose 54.4% to €78.9 million ($93.2 million) in 2021, from €51.1 million ($58.2 million). dollars) the previous year.

Vinyl sales accounted for 35% of all physical sales in France in 2021, with 5.2 million records sold last year, compared to 4.5 million in 2020.

SNEP reports that the volume of sales and revenue generated by the vinyl format has tripled over the past five years. In 2016, 1.8 million vinyls were sold on the market, generating 22.8 million euros ($24.2 million).

SNEP also released statistics on where fans bought physical music in 2021, with 63 million euros ($74.4 million) generated through e-commerce alone.

Of that €63 million, €57 million ($67.3 million) came from online retailers, while €6 million ($7 million) came from retail website sales. artists.

At the same time, neighboring rights revenue increased by 7%, from €101 million ($115.1 million) in 2020 to €109 million ($128.8 million) in 2021.

Synchronization revenue increased 11% year-on-year, from €21 million ($23.9 million) in 2020 to €23 million ($27.1 million) in 2021.

SNEP’s end of year report also highlights the success of local artists in the French market in 2021.

According to the report, “French productions” represented 83% of the 200 best-selling albums in France in 2021.

Moreover, 18 of the 20 best-selling albums in France last year were made by artists based in France.

In addition, 16 of the 20 best-selling artists on the market in 2021 were French artists.

The best-selling album in France last year was Civilization by Orelsan.

The top-selling artist, according to the SNEP report, was French rapper JUL.

“The ability of producers to relentlessly close new deals that develop innovative and immersive experiences is a major driver of recorded music market growth.

Alexandre Lasch, SNEP

Alexandre Lasch, CEO, said, “The ability of producers to relentlessly land new deals that develop innovative and immersive experiences is a major driver of recorded music market growth.

“Labels and record companies are constantly striving to multiply partnerships with platforms; they invest in new technologies and applications, and develop expertise within teams to ensure audiences can connect and engage with music and the world of recording artists in the most diverse ways possible.

Note: EUR-USD currency conversions in this story are based on figures published by the IRS annual average exchange rates.The music industry around the world