German music market - Inquiry for Music-Streams is growing - Vinyl remains popular
The demand for vinyl records on the German Music Market is growing. This is evident from the figures published by the Bundesverband Musikindustrie in Berlin for the first half of 2024. Vinyl saw a growth of 5.4% compared to the previous year's period and accounts for 5.9% of the market share.
More than 85% of the revenue was generated between January and the end of June through digital offerings, particularly Audio-Streaming. The demand from music fans for streaming services continues to grow.
According to the statements, a total of 1.136 billion Euros were generated with Music by the end of June. In comparison, it was 1.056 billion Euros in the previous year's period. The turnover increased by 7.6%. The market is developing dynamically, according to the interest group of around 200 record label manufacturers and music companies.
Vinyl and streaming offers complement each other
Despite the continuing popularity of Vinyl, the demand for physical carriers - which also include CDs, DVDs and Singles - is declining significantly. They accounted for almost 15% of the Revenue up to mid-year.
According to the Chairman of the Executive Board of the Bundesverband Musikindustrie, Florian Drucke, the year 2024 has started well. It shows that the attractiveness of streaming offers continues to increase. "The sustained upward trend of Vinyl illustrates that the physical and digital worlds remain complementary and interact with each other." Fans listen to and use music in all ways.
The growth in Vinyl record sales is not exclusive to Germany, as the Music Market globally has seen a resurgence in interest. Berlin, being a significant city in the German Music Industry, has been a prominent contributor to this trend.
The interest in Vinyl extends beyond digital streaming, with vinyl records accounting for a notable 5.9% of the Music Market share in Germany during the first half of 2024.
Recent data from the Bundesverband Musikindustrie in Berlin reveals that despite Vinyl's surge in sales, physical carriers like CDs, DVDs, and Singles are witnessing a significant decline in demand, contributing only 14.7% to the Music Market's revenue in Germany.
