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Business News Labels & Publishers
Spanish record industry revenues down by over 20%
By CMU Editorial | Published on Tuesday 1 February 2011
Spain’s record industry saw revenues drop again last year by a not insignificant 21.1% according to figures from Spanish trade body Promusicae.
Physical sales slumped by 28.5%, and while the streaming and subscription services online saw impressive growth, more traditional download platforms – both online and on mobile – saw revenues fall, suggesting that growing streaming services are taking customers from a la carte download stores rather than converting file-sharers into legit music customers. Overall Spain’s record industry brought in 167 million euros.
Spain’s record companies will no doubt lean heavily on these stats as they lobby hard for Spanish politicians to back the previously reported Sinde Law, which would make it easier for content companies to force websites which exist primarily to enable piracy offline. Although the Spanish government, responding in part to pressure from the US and elsewhere, seems committed to tightening up the country’s copyright laws, there remains much opposition to the Sinde Law proposals within Spain.
