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Spotify boosts Swedish music sales

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New statistics show that music sales in Sweden increased by 30.1 percent in the first half compared with a year earlier as online streaming of music, from popular services like Spotify, continued to grow in popularity.

“Swedes have shown that they really like streaming music. Now, when buying music in a way that suits the consumer is easier than ever before, music sales increase,” said Ludvig Werner, managing director of the business organization IFPI Sweden.

Revenues from digital streaming grew by 79.4% in the first half, while physical record and video sales declined by 2.2%, and revenues from digital downloads dropped by 14%, data from the Swedish Recording Industry Association showed.

Swedes were early to catch on to online streaming of music and last year digital music sales overtook physical sales in Sweden. The Nordic country is also the home country of Spotify Ltd., one of the most popular music-streaming clients.

 

 

 

Last Updated (Friday, 13 July 2012 17:14)

 

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