The annual revenue in the market has just been published from Deloitte on behalf of industry body FIMI (Federazione Industria Musicale Italiana – Federation of the Italian Music Industry).
The recorded music market for Italy grew 0.4% in 2016, reaching €149 million.
A market in good health, this is the fourth consecutive year of growth for the Italian industry with a general increase of 21%.
Although this year posted a 0,4%, there were big changes in specific segments.
First of all, the good news is that streaming subscriptions increased by 39.4% and that represent the second largest source of revenue with €35.2 millions – with a 51% share of the entire digital market.
Even though the trend of physical market is in decline, CDs remain the largest source of revenue with a market share of 54%.
Also vinyl sales, as well as in the worldwide trend, are increasing with a 52% more than 2015.
In general, the tastes of Italians remain “local” with 17 out 20 albums in the annual top ten made by Italian artists.