Music revenues up 4% to €37 million

 In Digital economy, Economy, Entertainment, News

Physical sales of music formats saw a fall of 19.8% in 2020 on 2019

According to the Portuguese Phonographic Association (AFP) sales were worth €6.7 million and in 2020 plummeted to €5.4 million.
Revenues from recorded music and artist and music producer royalties in Portugal totalled €37 million in 2020, which represented an increase of 4% on the previous year it was announced on Wednesday.
The Associação Fonográfica Portuguesa (AFP) and music artists and producers royalties association Associação de Gestão de Direitos de Produtores Fonográficos (AUDIOGEST) released the results of their annual report for the music industry in Portugal for 2020 and highlighted music streaming that represented the biggest increase of ‘online’ services, with a growth of 20.5% in relation to the previous year”.
According to the report, the digital market has a much greater relevance on national revenues, 73.9% of the total which corresponds to around 21.4 million and signifies an increase of 3.6% on 2019.
Physical sales (CDs and vinyl) represented 25.3% of revenues (around €5.4 million) while synchronisations or songs and music with moving images, just 0.8% (around €182,000).
Regarding the digital market, online streaming represented the overwhelming majority of revenue (96%), or around €15.2 million.
In 2019, ‘streaming’ had revenues of €12.6 million which represented an increase of 20.5%. The other 4% of digital market revenues (€628,000) came from downloads and other digital segments such as mobile.
Downloads and other digital music services in 2020 saw a fall on the previous year, as was the case with physical sales.
Physical sales saw a fall of 19.8% on 2019. In 2019, physical sales had been €6.7 million and in 2020 they were €5.4 million.
It was albums rather than singles and DVDs which represented the largest slice of sales in the physical market (95.8%) representing around €5.1 million.
The best-selling albums were ‘Map of Soul’ by BTS, ‘Fine Line’ from Harry Styles and ‘Mariza Canta Amália’ by Mariza.
But in 2020 producers and artists royalties increased 4.6% on 2019, from €14.9 to €15.6 million.