Revenues in France’s recorded music market rose 7% 12 months on 12 months in 2024, the nation’s recorded music business group, boosted by double-digit development in music exports because of final 12 months’s Paris Olympics, business group SNEP mentioned in a brand new report.
Complete revenues – together with digital, bodily, sync, and neighboring rights – got here in at EUR €1.031 billion, or USD $1.12 billion on the common trade charge for 2024.
SNEP famous that recorded music revenues have now grown by 58% since 2015, when France’s music market started to emerge from the disaster triggered by music piracy. Nonetheless, when adjusted for inflation, final 12 months’s revenues matched these of 2007, and amounted to simply 54% of the file degree of 2002.
Of the 2024 income whole, €664 million ($718.6 million) got here from streaming, up 9.5% YoY. As in different markets, the overwhelming majority of that – €522 million ($565 million) – got here from paid streaming subscriptions, which have been up 11.4% YoY. This was the primary 12 months that subscription revenues surpassed the half-billion-euro mark, SNEP famous.
Advert-supported streaming grew 6.0% YoY to €75.2 million ($81.4 million).
Nonetheless, SNEP referred to as the streaming income knowledge “optimistic however deceptive,” as French customers have been comparatively sluggish to undertake music streaming, that means the massive improve comes off a comparatively low baseline.
The music streaming penetration charge in France was 25.9% in 2024, “near that of different Mediterranean nations however far faraway from different main music markets,” SNEP famous.
“In the UK, Germany, and the USA, the penetration charge stays considerably greater. The speed at which the variety of customers is rising stays too sluggish: up 7.3% year-on-year, [which is] 3.3 [percentage] factors under the worldwide common.”
In all, some 27 million individuals in France streamed 138 billion songs in 2024, with 80% of streams coming by way of paid subscriptions.
The flipside of France’s comparatively sluggish adoption of streaming is a comparatively massive bodily music market, which in 2024 accounted for practically 19.0% of whole recorded music revenues. (Within the UK, it accounted for 16.5%.)
Complete bodily income got here in at €195.6 million ($211.7 million), up 1.3% YoY, pushed by a 5.4% YoY improve in vinyl gross sales to €98 million ($106.1 million) and a 4.8% YoY drop in CD gross sales to €91.2 million ($98.7 million).
SNEP famous that 2024 was the primary 12 months that vinyl gross sales income exceeded CD income since 1987. “Nonetheless, CDs stay extra well-liked with 10 million models offered, two-thirds greater than vinyl,” the business group mentioned.
Bodily gross sales have been pushed by development in direct-to-consumer channels equivalent to artists’ on-line shops, which have been up 33% YoY and have grown fivefold in 5 years. SNEP attributes this to the rising connection between artists and followers that digital media have made attainable.
“The ‘armies’ of Ok-pop artists have certainly led the way in which: throughout all genres, unique experiences and content material supplied via D2C are constructing fan loyalty,” SNEP’s report said.
“These ambassadors are making sturdy suggestions to the general public via word-of-mouth, which is extra influential than ever, in school, at work, or on social media.”
“The ‘armies’ of Ok-pop artists have certainly led the way in which: throughout all genres, unique experiences and content material supplied via D2C are constructing fan loyalty.”
SNEP
One notable statistic in SNEP’s newest report: Exports of French music soared 19% YoY in 2024, to €162 million ($175.3 million).
The business group attributes this to final 12 months’s Paris Olympics and Paralympics, together with labels’ efforts to extend the recognition of French music overseas. Moreover, “the expansion of worldwide streaming is a key driver of this dynamic,” SNEP mentioned.
French music is changing into more and more well-liked inside France as properly. Native artists “dominated” the charts in 2024, taking three-quarters of the spots among the many 200 best-selling albums, and 18 of the highest 20 biggest-selling albums.
“Streaming drives this success,” SNEP mentioned.Music Enterprise Worldwide
