Italian music market: Growth by 15.1% in the first half of 2024

27 August 2024 - Press release

Both streaming and physical revenues are constantly growing

The first half of 2024 closes positively for the Italian music market, which marks an overall growth of 15.1% with a turnover of over 200 million euros according to Deloitte for FIMI.

This result is driven by the strong affirmation of premium streaming, whose revenues grew by 23%, bringing the entire streaming segment to cover 81% of the market thanks to the overall growth of 18.1%. In the first half of 2024, moreover, GfK data reveal that the streaming market saw its volumes grow by 31.7%, with over 46 billion total streams. A significant growth of 23.5% is also recorded for video streaming revenues.

A positive sign is registered also for the physical sector, which grows by 5.7% occupying a market share of 15%: this result is driven by the now constant diffusion of vinyl - which alone marks +16%. The CD segment, however, decreased by 10.6%.

The synchronization segment also performed well, closing the semester with a growth of 4.5%.

Following a trend that has been underway for a few years, the dominance of the Italian repertoire is further consolidated – as emerged in the 1H24 charts, whose top ten Albums and Singles were entirely occupied by local artists.