Over one-third of all Spaniards stream music with 5.2 million doing so through a premium subscription in 2022 – an increase of 18% over 2021 according to Promusicae, the Spanish recorded music industry association. 17 million Spaniards used audio streaming services during 2022 representing 36% of the population. Revenue grew by 12.43% in the year amounting to €462 million of which €402 million were music sales which is 9% up on the past year.
The digital market already accounts for almost 86% of the music consumed in Spain (€345 million) with physical sales continuing to decline (€56 million). Of the €345 million that the industry earns from digital sales, more than 98% is contributed by streaming (€340 million). Audio platforms contribute €280 million to the industry compared to €60 million that come from video. Digital consumption of both audio and video grew by 13% and 16%, respectively.
Promusicae noted that even in the current economic climate, consumers have not given up the advantages offered by premium accounts, even though in Spain they are still far from the percentages of premium subscriptions found in other countries with more mature and aware markets.
The presence of recorded music on social networks continues to be prominent on platforms such as Facebook and Instagram, as well as through short videos on Tik Tok and YouTube. According to the IFPI Engaging report with Music 2022, 63% of Spaniards said that music plays a central role in the time they spend on social media. The rest of the digital market is provided by permanent downloads and the sale of mobile products which, although they continued their downward trend, they billed a total of €5 million.
Vinyl continues its upward growth
In a physical market that continues to shrink, vinyl plays an ever increasing part. In 2022 the upward trend of recent years continues with a 15% growth reaching 52% of the physical market in billing, generating a value of €29 million compared to the €26 million for CDs which represents only 47% of physical product sales.
More CDs than vinyl albums were purchased in 2022. 2.6 million CDs compared to 1.7 vinyl albums shipped in 2022 with consumers prepared to pay more for vinyl.
Free streaming and piracy
Despite the fact that today it is more accessible than ever to enjoy legally recorded music, data from the IFPI Engaging with Music 2022 report showed that in Spain there are still 32% of people who use unauthorized or unlicensed methods to listen or download music. In the case of young people between 16 and 24 years old, the percentage grows to 49% confirming that it is necessary to continue to make young people aware of the importance of consuming music legally and paying for it.
Income from intellectual property rights increased by 42% to €56 million largely due to the return to normality after the restrictions of the pandemic in sectors such as hospitality and nightlife. Income from music synchronization for audio visual productions and advertising made €3.2 million in 2022.
An infographic summarising 2022’s music sales (in Spanish) can be found here.
