Spain’s music industry posts another year of growth bolstered by digital

Spain flag canvasSpain’s recorded music industry saw the digital business exceed the physical side for the first time in 2016. According to industry group Promusicae, digital holds a 61% share of the industry and the country has more than 1 million streaming subscribers.

Total sales inched up 1.67% to €163.7 million for the year. Although last year marked a third consecutive year of growth for Spain, the rate has been slowing: it was 11% in 2014 and then 7% in 2015. Digital revenue rose nearly 26% to €100.2m. A majority of that money came from annual subscriptions, which rose 37.4% to €62.2 million. Free, ad-supported streaming contributed €25.3 million, up 24.7%.

“The time has come when the government must set as priority a plan to protect recorded music and develop digital distribution,” Promusicae President Antonio Guisasola said. “We have come here on our own and without support, in fact with many difficulties, assuming great investments and with a high-risk percentage. In fact, a clear and real example of the efforts the music industry is making to get renewed and to grow on the Internet is to be present in different streaming platforms.”

Anna Washenko