Recorded music revenues in Germany grew 7.6% YoY in the first half of 2024.
That’s according to the market’s music industry association BVMI, which revealed today (July 23) that in the first six months of the year, Germany generated EUR€1.136 billion (approx. $1.23bn), on a retail basis, from music streaming as well as from the sales of CDs, vinyl LPs and downloads.
Germany is the world’s fourth-largest recorded music market, behind the United States, Japan and, United Kingdom, respectively.
The key driver behind the growth of Germany’s recorded music business in the first six months of 2024 was audio streaming.
Revenues generated by audio streaming in Germany in H1 grew 12.7% YoY and accounted for 79.3% of the total market. Download revenues, meanwhile, fell by 16% YoY and accounted for just 1.6% of the market.
Overall recorded music revenues generated by physical formats fell by 11.9% YoY in Germany in H1.
Revenues generated by CDs, which accounted for 8.1% of Germany’s total recorded music market in H1 2024, fell 22.5% YoY.
Recorded music revenues generated by vinyl records in Germany grew 5.4% YoY in the first six months of the year. Sales of vinyl records accounted for 5.9% of the recorded music market in the country.
The physical music business in Germany, including CDs, vinyl, DVDs and singles – now accounts for 14.7% of Germany’s total record industry revenues.
Elsewhere at BVMI, in a statement issued today (July 23) alongside the German market’s H1 numbers, the org’s Chairman and CEO commented on the industry’s relationship with AI at the moment, and about AI companies using music to train their systems using copyrighted music.
Drücke argued that a “binding agreement” is needed to prevent artists’ work from being “sucked in and used by machines.”
He said: “Especially in the context of generative AI, however, it is particularly important that we reach a fundamental, binding agreement that the existing content conceived, produced and financed by humans must not simply be sucked in and used by machine.”
He added: “Our industry is very clear here: the goal is a partnership. However, if the use takes place without the consent of the rights holders and, above all, without them participating in the value creation, we will not accept this. As we know, initial proceedings for clarification [are being] conducted in the USA.”
Meanwhile, the COPIED Act, recently introduced by a bipartisan group of US senators, could make it unlawful to train AI using copyrighted material without permission.
“The appeal of streaming services for music fans still continues to grow.”
Dr. Florian Drücke, BVMI
Dr. Florian Drücke, Chairman & CEO BVMI, said: “2024 is off to a good start, with the industry generating a total of €1.136 billion in the first six months, 7.6% more than in the same period last year.
Drücke added: “The appeal of streaming services for music fans still continues to grow. Vinyl’s sustained upward trend shows that the physical and digital worlds remain complementary and interact with each other.”
Germany’s recorded music revenues reached EUR €2.208 billion (on a retail basis) in FY 2023, which was up 6.3% YoY.
All EUR-USD conversions made at the average rate of the relevant period according to the European Central Bank.
