French music streaming sales grew 9.4% in first half of 2023 according to figures released by SNEP, the French music industry association. Total sales were €397 million with physical sales up 7.3% and digital sales up 10%. The use of downloading continues to decline which is similar to other major European markets.
First half of 2023 highlights
- Streaming accounted for 77% of total revenues up from 71% compared to the same period last year.
- 60 Bn streams up 17% compared to the same period last year.
- Subscription income increased by 10% accounting for 59% of total revenues but growth remains lower than in other comparable European countries.
- Although continuing to grow (+7.9%), the vinyl phenomenon is slowing down due to the effects of inflation and consumers prioritising their spending in other areas.
- The jump in CD sales, compared to the downward trend observed during the first half of recent years, is cyclical, due to a set of very popular commercial releases (Indochine, Jul, Aya, Ninho).
Alexandre Lasch, Managing Director, SNEP, said: “…freemium audio and video streaming, which now accounts for almost 20% of the market, contributes more to the growth in streaming revenues than paid offers. The market share of these segments whose model is based on advertising demonstrates the difficulty in developing a solid subscription market in France and hampers value creation.”
The complete report (13pp in French) on the first half of 2023 can be downloaded here.
