Italian recorded music revenues grew 27.8% in 2021 to reach $ 392.4 million (€ 332m), up € 72m ($ 85m) versus 2020, when the market generated € 259.89 million ($ 296.3m) in recorded music revenues.
That’s according to FIMI, the organization that represents the country’s recorded music industry.
The publication of Italy’s recorded music revenues for 2021 coincided with yesterday’s (March 22) release of IFPI’s Global Music Report, in which it was revealed that Italy is now ranked at No.10 on the list of the Top 10 biggest music markets globally.
In Italy, paid subscription streaming revenues rose by 35.6% in 2021 to top € 141.7 million ($ 167.5m) versus € 104.5 million ($ 119.1m) in 2020.
The Total streaming segment (including revenues from video, paid and ad-supported streams) reached € 208.4 million ($ 246.3m) in 2021, up 24.6% YoY, from € 167.3 million ($ 190.7m) in 2020.
Within Italy’s physical revenues, CD and Vinyl sales saw an uplift in 2021, following a slump in 2020 due to the closure of retailers during the pandemic.
CD sales grew 10.6% from € 24.1 million ($ 27.4m) in 2020 to € 26.7 million ($ 31.5m) last year, while Vinyl sales soared 78% to € 26.8 million ($ 31.6m), compared to € 15 million ($ 17m) in 2020.
Other physical formats, such as audio cassettes, saw their revenues increased by 245% YoY in 2021 to € 686,000 ($ 810,000).
Total physical sales grew 37.87%, from € 40 million ($ 45.6m) in 2020 to € 55.2 million ($ 65.2m) in 2021 (see below).
Elsewhere in the market, performance rights revenues rose 37.2% to € 52 million ($ 61.4m) in 2021.
Synchronization revenues, meanwhile, increased 36.4% from € 7.5 million ($ 8.5m) in 2020, to € 10.3 million ($ 12m) in 2021, passing the € 10 million mark for the first time, according to FIMI.
