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Norwegian recorded music revenues grew 11% in 2013, boosted by streaming income
By Andy Malt | Published on Thursday 16 January 2014
Norway saw another sharp increase in recorded music revenues last year, again driven by digital income. A year-on-year increase of 11% came mainly from streaming income, while physical and download revenues fell – streaming accounting for 65.3% of total revenues in 2013, according to new figures from IFPI Norway.
Overall the Norwegian record industry made 603 million krone (£60 million) in 2013, up from 545 million krone (£54 million) the previous year. 394 million krone (£39 million) of this came from streaming services, an increase of 60% year-on-year, while overall digital was up 40%. 22.3% of the remaining income came from physical sales, while just 12.4% came from downloads.
IFPI Norway states in its report that early adopting of streaming in the country, like in Sweden, has meant that this sector has matured sooner than elsewhere. In 2012, digital revenues broke 50% for the first time, accounting for 61.4% of total income, at which point previously declining overall revenue rose by almost 40 million krone. Last year’s revenues are the highest since 2009, and almost the same as those recorded in 2008, when digital income accounted for just 9.3%.
Whether this is a trend that will be replicated in other countries remains to be seen – there are various factors that could mean that Norway is an anomaly, rather than a trendsetter. However, IFPI Norway says that with Norwegians over the age of 40 now increasingly using streaming services, it believes that growth in the country’s recorded music revenues will continue in 2014.
