Streaming drives growth for Austrian music market in 2017

Austria posted 6.1% growth in its music market during 2017, reaching a total of 145.4 million euros. Streaming revenue grew 86% to 32.6 million euros. Subscription services were responsible for revenue of 29.2 million euros. Ad-supported video streams, mostly from YouTube, contributed revenue of 2.3 million euros. According to the IFPI Austria, streaming was the main driver of the country’s music growth last year.

Physical formats remained the biggest revenue stream, reaching 64.8 million euros. Music download revenue declined in 2017, but still added 13.5 million euros to Austria’s industry.

“An increase of more than 6% – that is a very positive signal after a long dry spell!” said Franz Medwenitsch, managing director of the Association of the Austrian Music Industry. “Now we have to keep the domestic music market on the growth track with attractive releases and the right mix of physical, download and streaming distribution channels.”

Anna Washenko