Music streaming has spiked to almost three-quarters of all Spanish music sales. Streaming services such as Spotify, Apple Music, Deezer, Napster, Tidal generated $52.8m in revenues in the first half of 2018, up 53% from €34.6m in the same period last year, according music industry association Promusicae.
The organisation says Spanish consumers are clearly happy paying a small monthly fee access to huge catalogues of music. It adds that such a consumption music model is on a growth curve and that that it “will be the entrance door for revenue recovery for the industry”.
e-Overview: Expect subscription streaming to continue to make inroads in Spain – as elsewhere – though that will be at the expense of advertising-supported services. They are losing serious traction in Spain where revenues totalled just €8.4m in the first half of 2018, down more than 60% year-on-year.