Spain’s music industry sees growth for first time since 2001


PROMUSICAE logo canvasSpain’s music industry association Promusicae revealed that the nation’s music market grew about 21% to more than €149.9 million last year. It was the first year since 2001 with an uptick in sales. A large portion of that growth came from streaming services, which contributed €47.2 million in revenue. That streaming figure rose 36.3% from last year.

Spain is one of the few countries that have posted further gains in sales of physical formats (Germany is another). CD sales rose 22% from 2013 with 11.6 million units sold. But Spain’s market is seeing the digital business’ share pull closer to the one held by physical sales; the divide is currently 42% for digital and 58% for physical.