BVMI, Germany’s music industry group, has released the mid-year report for the country. The total market revenue for the first six months of the year grew by 2.9% to reach about €740 million ($853 million).
CDs still hold the lion’s share of the business with a 44% stake, and physical formats overall account for 52.3% of the total market. Streaming did see growth of 10.3% on-year to secure the second-largest revenue share with 34.7% of the total revenue. Downloads had a share of 10.9%.
“In the first half of 2017, a balance between physical and digital business is slowly emerging in Germany – with a good overall growth of 2.9 percent,” said BVMI Managing Director Dr. Florian Drücke. “The industry’s strategy of being present on all the different ways of using is clearly evident among the fans – they are comprehending their individual mix of uses, from vinyl to the cloud. This is a good news.”