Promusicae has published the income figures of the music recorded in Spain in 2024. This report follows the first published a few weeks ago. The main conclusion of the Annual Promusicae report is that digital consumption is maintained and subscriptions increase, but physical sale decreases.
In Spain, recorded music reported total revenues of 568.8 million euros in 2024, rising 9.42% compared to 2023. Of this figure, 454.5 million correspond to the digital market, which already represents more than 89% of the income from music consumed in the country.
Both audio and video platforms saw their consumption grow in 2024 in Spain, the audio 14.09% and the video 7.45%. Specifically, 20 million Spaniards used audio streaming platforms. The good news is that premium subscriptions increased; The bad, that the 7 million users remain insufficient to ensure “responsible” digital consumption in Spain, such as other countries where subscriptions are a majority.
While digital consumption grows, physical sale continues to fall: in 2024, income from physical formats fell 13.25%, reaching a total of 53.8 million euros. The sale of vinyl represented 62.8% of total music sales recorded in Spain, 8% less than in 2023. Specifically, 1.67 million units were sold, compared to 1.81 million in 2023. The sale of CD’s also descended in Spain a 25.4% generating 19.6 million euros, compared to the 26.3 million billed in 2023.
As for the rest of the sector’s income, those obtained by intellectual property rights increased in 2024, which reached 56.3 million euros. However, income from music synchronizations for audiovisual productions and advertising decreased.
