{"id":7745,"date":"2024-03-21T11:23:15","date_gmt":"2024-03-21T10:23:15","guid":{"rendered":"https:\/\/www.fimi.it\/?post_type=news&p=7745"},"modified":"2025-07-18T09:13:44","modified_gmt":"2025-07-18T07:13:44","slug":"italian-recorded-music-revenues-rises-by-18-8-in-2023","status":"publish","type":"news","link":"https:\/\/www.fimi.it\/en\/news\/italian-recorded-music-revenues-rises-by-18-8-in-2023\/","title":{"rendered":"ITALIAN RECORDED MUSIC REVENUES RISES BY 18.8% IN 2023"},"content":{"rendered":"
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BEST RESULT EVER WITH ONE OF THE STRONGEST GROWTH IN THE WORLD<\/p>\n

ITALY THIRD MARKET IN THE EUROPEAN UNION<\/p>\n

The global music market grows by 10.2%, according to IFPI\u2019s Global Music Report<\/p>\n

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According to FIMI, the organization that represents the Italian recorded music industry, 2023 marks an important milestone for\u00a0the Italian recorded market, which registers a significant growth of 18.8% for \u20ac440 million revenues<\/strong>: this is a sign of an evident vitality of the music market in Italy, which achieves\u00a0one of the highest growth rates in the world and\u00a0<\/strong>ranks\u00a0<\/strong>as the third market in the European Union<\/strong>, achieving the best result ever in terms of percentage with significant increases across all segments. The positive performance of the music market is also recorded at a global level: according to IFPI\u2019s\u00a0Global Music Report<\/em>\u00a0published today, in fact, the increase in the international recorded music market is 10.2%, reaching US$28.6 billion and marking the ninth consecutive year of growth.<\/p>\n

In Italy the sector is driven by streaming<\/strong>: it covers an overall market share of 65% and its revenues grew by 16.2%, reaching more than \u20ac287 million for a total of over 6.5 million premium subscribers to streaming services (+9% compared to the previous year). In this scenario,\u00a0revenues from subscriptions to streaming platforms have led the sector<\/strong>: the premium segment has in fact grown by 18.4%, reaching more than \u20ac190 million in revenues. In the\u00a0digital area<\/strong>\u00a0(which closed with an increase of 15.7%), only the\u00a0download<\/strong>\u00a0segment recorded a decrease, down by 11.8%.<\/p>\n

The centrality of streaming is also highlighted by the\u00a0IFPI Engaging with Music report<\/a>, according to which Italian consumers spent 20.9 hours per week listening to music in 2023 and\u00a060% of the time spent was allocated to listening to digital music<\/strong>\u00a0(equally divided between audio streaming platforms and long-form and short-form video streaming platforms). Furthermore, 73% listened to music via licensed audio streaming services (subscription or with advertising).<\/p>\n

The physical segment records a growth, positioning Italy as the eighth market worldwide<\/strong>: with revenues of almost \u20ac62 million, it marks +14.4% and covers a market share of 14% (a figure corresponded to 68% in 2013: in retrospect recounts the long journey of digital over the last 10 years).\u00a0Vinyl<\/strong>\u00a0leads the sector, growing by 24.3%, but there is also a resistance from\u00a0CDs<\/strong>, up by 3.8%.<\/p>\n<\/div>\n

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\"Italian<\/p>\n

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In this context the impact of the Italian Government\u00a0Culture Bonus<\/strong>\u00a0played a central role, which raised \u20ac11 million (data non-complete, as it stops at December 2023). Overall, the impact on the recorded music market of the Culture Bonus of the past seven editions is \u20ac122 million.\u00a0The growth\u00a0<\/strong>of\u00a0<\/strong>physical revenues reflects the new strategic approach of the sector<\/strong>, which beyond streaming is diversifying its growth factors, keeping superfans at the center: the symbols of this kind of fandom monetization are exclusive releases and recent pop-ups local stores activated on special occasions, from Sanremo week to iconic anniversaries.<\/p>\n

The unstoppable dominance of Italian music in 2023 is also evident in the\u00a0annual Top of The Music charts by FIMI\/GfK<\/a>, which have captured\u00a0an important affirmation of the local repertoire<\/strong>: 80% of the albums in the Top 100 are Italians, a figure that in 2013 stood at 63%.<\/p>\n

The results of the labels’ strong investments \u2013 also thanks to the Italian Tax Credit \u2013 are evident in\u00a0the number of titles exceeding the fateful threshold of 10 million streaming<\/strong>\u00a0(premium + free): 793 albums in 2023, + 235 titles compared to 2022. And the comparison with the previous decade shows a surprising growth curve: in 2012 only 137 albums had in fact reached the same threshold with the equivalent of CD sales and downloads\u00a0(+479% in just ten years).<\/p>\n

Performance rights<\/strong>\u00a0also grew by a significant +42.6% – with a turnover of almost \u20ac73 million, which positions Italy as the seventh market globally – and\u00a0synchronization<\/strong>\u00a0rights<\/strong>\u00a0saw an increase of 3.5%, reaching \u20ac13 million.<\/p>\n

The flourishing scenario of the Italian market opened new frontiers and opportunities in the musical panorama, allowing\u00a0an important advance abroad<\/a>: in 2023, in fact,\u00a0revenues from the export of Italian music grew by 20% (+130% compared to to 2020)<\/strong>, for a total royalty income of more than \u20ac26 million. Inevitably, even in this segment the digital area is the driver, with revenues growing by 11% to almost \u20ac21 million.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

BEST RESULT EVER WITH ONE OF THE STRONGEST GROWTH IN THE WORLD ITALY THIRD MARKET IN THE EUROPEAN UNION The global music market grows by 10.2%, according to IFPI\u2019s Global Music Report   According to FIMI, the organization that represents the Italian recorded music industry, 2023 marks an important milestone for\u00a0the Italian recorded market, which […]<\/p>\n","protected":false},"author":2,"featured_media":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categorienews":[],"tags_news":[],"class_list":["post-7745","news","type-news","status-publish","hentry"],"acf":[],"yoast_head":"\nITALIAN RECORDED MUSIC REVENUES RISES BY 18.8% IN 2023 - Fimi<\/title>\n<meta name=\"description\" content=\"ITALIAN RECORDED MUSIC REVENUES RISES BY 18.8% IN 2023\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fimi.it\/en\/news\/italian-recorded-music-revenues-rises-by-18-8-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ITALIAN RECORDED MUSIC REVENUES RISES BY 18.8% IN 2023 - 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