Big streaming growth for Finland’s music industry in 2014

Finland’s recorded music market followed the global trend in 2014, with an overall decline partially offset by gains in streaming revenue, according to data from IFPI. The total industry income for the year was €35.9 million, down 14% from 2013. It was the first year where digital properties edged out physical formats, accounting for 51% of the year’s revenue. Money from all streaming services rose 38% from the previous year to €16 million. The subscription platforms posted revenue of €13.8 million, up 19.6%, while revenue from ad-supported streaming (including YouTube) rose 1,354% to €2.3 million.

As with many other nations, the gains in streaming couldn’t entirely offset losses in sales of physical formats, which dropped 33.8% to €17.1 million. The market for downloads also declined 29.2% to €2.02 million.