IFPI reports that Norwegian music market revenue has
increased by 11% in 2013. Total revenue in 2013 in Norway was 603 million NOK
(around 98 million dollars*) compared to 545 million NOK (around 88 million
dollars*) in 2012.
Driving force behind great results were increased streaming
and digital sections. Streaming services are currently in the focus of many
debates of the future of the music industry and Norway’s case will definitely
be a big part of those debates in 2014. Streaming services (Wimp, Spotify etc)
make incredible 65% of the total music market revenue in Norway with income of 394
million NOK (around 64 million dollars*). Digital downloads have produced 74
million NOK (about 12 million dollars*) and they make 12% of total music
market.
Both, streaming services and downloads make 468 million NOK
(76 million dollars*) and hold 77.6% of Norwegian music market. In 2012 their
share was 61.4% and in 2008 they held only 9.3% of total market so it’s safe to
say that transition from physicals is nowhere more apparent than in this Nordic
country.
With a couple of more streaming services set up, Norway
looks forward to 2014 and hopes to continue with music market growth. Norway was ranked #18 on the list of biggest music markets in 2012.
*Course of dollar on January 18th, 2014.
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