The turnover in the Norwegian music industry in 2014 was kr 3,5 billion, a decrease of two percent from 2013. This is shown in the report "Music in Figures", which was published today. The total turnover in the music industry has thus developed differently than TONO's turnover, which increased by 6 percent in the same period.
/ 21/12/2015 / codexIllustration above: Concerts constitute the largest revenue source in the Norwegian music industry. Here is Aurora Akses at by:Larm 2015 (Photo: Per-Otto Oppi Christiansen)
Rambøll has now, for the third year in a row, conducted a financial analysis of the Norwegian music industry on behalf of the Arts Council and the Ministry of Culture. The report shows a total turnover of kr 3,5 billion, which is a decrease of two percent from 2013, but an increase of 7 percent from 2012.
– TONO is one of the most important contributors of figures to the work on the report, and finds it positive that the turnover in the Norwegian music industry is mapped as it is through the Rambøll reports. Knowledge, such as the one we gain through these reports, allows one to have a richer understanding of reality, and to a greater extent speak the same language, both within the industry and towards key decision-makers, says Cato Strøm, CEO of TONO.
The report states that concerts provide the largest income for the Norwegian music industry, in fact more than half of the total income. In total, concert income in 2014 was kr 1,8 billion, an increase of 20 percent from 2013. But music streaming is also growing strongly. In 2014, streaming accounted for 77 percent of total recorded music sales, an increase from 46 percent in 2012.
Revenue from physical product sales also continues to decline. From 2012 to 2014, there was a 65 percent decline in sales revenue from recorded music. During the same period, there was a 28 percent decline in music downloads. However, it is worth noting that the growth in music streaming volume is compensating for the decline in sales revenue and downloads.
Total copyright revenues up 11 percent
The report estimates that the total royalty and copyright revenues in the Norwegian music industry in 2014 amounted to NOK 892 million. This is on par with 2012, but an increase of 11 percent from 2013. Of the total revenues in 2014, 8 percent were exports. Of the total royalty and copyright revenues, broadcasting and performance rights account for the largest shares with 29 and 21 percent, respectively. In total, performance rights amounted to NOK 549 million in 2014, an increase of 12 percent from 2012.
– 2014 was a good year for copyright revenues in Norway. TONO's turnover was also at its highest level ever, as we exceeded half a billion for the first time this year. It is nevertheless important to remember that we must not take for granted that growth will continue. It is absolutely crucial to have good framework conditions in the form of good legal protection in Norway and in the EU, so that we can also ensure in the future that copyright holders can have legitimate and fair income from their creative activities, says Cato Strøm.
The Swedish music industry has a far greater total turnover than Norway and Denmark. In 2014, music sales in Sweden were worth the equivalent of 7.4 billion Norwegian kroner. Denmark had a turnover of 5 billion Norwegian kroner, compared to a turnover of 3,5 billion here at home. Sweden is also the country that exports the most music from us. 18 percent of turnover came from exports. In Norway and Denmark, 6 percent of income comes from exports.
Read the full report on the Arts Council's website.