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Swedish record industry sees 5% uplift in 2013

By | Published on Wednesday 29 January 2014

IFPI

Following the recent news that the Norwegian record industry saw revenues increase in 2013, it was confirmed yesterday that record companies in neighbouring Sweden also had a good year last year. And as with Norway, Sweden is benefiting from a booming digital sector, led by growth in streaming services.

According to IFPI Sweden, streaming income grew by more than 30% last year generating about £66.5 million in revenue. That means streaming services now account for over 70% of the country’s recorded music income, up from 57.4% in 2012.

And while CD sales were down 30% again, and download income also slipped 22.6%, the streaming-led boom meant that the Swedish record industry overall enjoyed a 5% boost in sales.

Which is behind Norway in percentage increase terms, but nevertheless continues an optimistic trend for recorded music in the country, even if – in line with much of the rest of the world – the record industry is still a long way off returning to its 1990s peak in terms of yearly income.



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