Scandinavians Streaming Ahead

The Swedish and Norwegian recorded music markets are performing better than their European neighbours because fans in both countries are more inclined to embrace streaming.

Information released by IFPI Sweden Jan. 26 shows a 5 percent year-on-year increase in streaming, making the country one of the very few that compensates for the decline in physical sales.

In 2013, Swedish music sales grew 5 percent to 991.2 Swedish krona ($152.2 million), the third consecutive year upward. Last year Norwegian recorded music sales grew 10.6 percent, largely because digital revenues were up by 37.9 percent; streaming accounted for 81.4 percent of the country’s digital revenues.

Physical product now accounts for less than 25 percent of Norway’s total recorded music revenues.