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Italian Recorded Music Revenues Grew 18.8% in 2023
Italian recorded music revenues grew by 18.8% in 2023, making it the third biggest in the EU.
It is also one of the most significant growths on a global level, where IFPI reports an increase of 10.2% YoY, reaching 28.6 billion dollars and marking the ninth consecutive year of growth, as per their Global Music Report published today(Mar. In Italy, like elsewhere in the world, the sector was driven by streaming: it now covers a market share of 65% and its revenues grew by 16.2%, reaching 287 million euros. In 2023, revenues from outside the country grew by 20% (+130% if compared to 2020, the year before Måneskin’s success), for a total royalty income of more than 26 million euros.
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