Swiss music market grows again thanks to streaming
Overall sales in the Swiss music recording market continued to rise in 2020—due to the fact that music listeners are streaming more and more. In contrast, physical media such as CDs and LPs are now confined to a niche market. However, sales of downloads are also declining.
In Switzerland, total sales of 190.6 million Swiss francs were generated with recorded music in 2020, according to the IFPI, the leading industry association of Swiss music labels, which announced on Tuesday. This represents an increase of 3.9 percent compared to the previous year. The trend towards increasing sales has thus been unbroken since 2016.
The growth of 2020 in the overall market is exclusively attributable to streaming; sales here increased by 16 percent to CHF 144.5 million. In the download business, on the other hand, sales fell by a quarter to CHF 18.1 million. Sales of physical recordings were down 20 percent to 27.6 million Swiss francs.
The recorded music market is divided into the digital business with streaming and downloads (86 percent of total sales) and the business with physical recordings, such as CDs and vinyl long-playing records (14 percent), with LPs holding a market share of 2 percent. (SDA)
