The Spanish recorded music industry is having a promising year so far.
PROMUSICAE (Producers of Music of Spain), which represents over 95% of the Spanish recording industry, released the half-yearly figures, which continue to rise.
The recorded music industry has generated total revenues of €249.8 million ($277.3 million) during this period, reflecting an impressive growth rate of 16.6% compared to the same period in 2023, when revenues stood at €214.3 million ($237.9 million).
Digital formats (downloads and streaming) now account for 89.7% of the industry’s turnover, totalling €224.15 million ($248.82 million).
Streaming is the absolute leader of the format. It generated revenues of €221.86 million ($246.28 million).
Vinyl consumption rose 11.9% in the first half of 2024, while CD purchases fell 15%.
