{"id":226119,"date":"2025-03-12T19:49:18","date_gmt":"2025-03-12T19:49:18","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=226119"},"modified":"2025-03-12T20:40:12","modified_gmt":"2025-03-12T20:40:12","slug":"frances-recorded-music-revenues-reached-1-1bn-in-2024-as-exports-soared-19","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/frances-recorded-music-revenues-reached-1-1bn-in-2024-as-exports-soared-19\/","title":{"rendered":"France\u2019s recorded music revenues reached $1.1bn in 2024, up 7% YoY"},"content":{"rendered":"

Revenues in France\u2019s recorded music market rose 7% year on year in 2024, the country\u2019s recorded music industry group, boosted by double-digit growth in music exports thanks to last year\u2019s Paris Olympics, industry group SNEP said in a new report.<\/p>\n

Total revenues \u2013 including digital, physical, sync, and neighboring rights \u2013 came in at EUR \u20ac1.031 billion<\/strong>, or USD $1.12 billion<\/strong> at the average exchange rate for 2024.<\/p>\n

SNEP noted that recorded music revenues have now grown by 58%<\/strong> since 2015, when France\u2019s music market began to emerge from the crisis triggered by music piracy. However, when adjusted for inflation, last year\u2019s revenues matched those of 2007, and amounted to just 54%<\/strong> of the record level of 2002.<\/p>\n

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Inflation-adjusted recorded music revenues in France are still well behind the peak years of the early 2000s. Chart: SNEP<\/figcaption><\/figure>\n
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Of the 2024 revenue total, \u20ac664 million<\/strong> ($718.6 million<\/strong>) came from streaming, up 9.5% YoY<\/strong><\/span>. As in other markets, the vast majority of that \u2013 \u20ac522 million<\/strong> ($565 million<\/strong>) \u2013 came from paid streaming subscriptions, which were up 11.4% YoY<\/strong><\/span>. This was the first year that subscription revenues surpassed the half-billion-euro mark, SNEP noted.<\/p>\n

Ad-supported streaming grew 6.0% YoY<\/strong><\/span> to \u20ac75.2 million<\/strong> ($81.4 million<\/strong>).<\/p>\n

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However, SNEP called the streaming revenue data \u201cpositive but misleading,\u201d as French consumers have been relatively slow to adopt music streaming, meaning the large increase comes off a relatively low baseline.<\/p>\n

The music streaming penetration rate in France was 25.9%<\/strong> in 2024,\u00a0\u201cclose to that of other Mediterranean countries but far removed from other major music markets,\u201d SNEP noted.<\/p>\n

\u201cIn the United Kingdom, Germany, and the United States, the penetration rate remains significantly higher. The rate at which the number of users is growing remains too slow: up 7.3% year-on-year<\/strong>, [which is] 3.3 [percentage] points below the global average.\u201d<\/p>\n

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In all, some 27 million<\/strong> people in France streamed 138 billion<\/strong> songs in 2024, with 80%<\/strong> of streams coming via paid subscriptions.<\/p>\n

The flipside of France\u2019s relatively slow adoption of streaming is a relatively large physical music market, which in 2024 accounted for nearly 19.0%<\/strong> of total recorded music revenues. (In the UK, it accounted for 16.5%.)<\/p>\n

Total physical revenue came in at \u20ac195.6 million<\/strong> ($211.7 million<\/strong>), up 1.3% YoY<\/strong><\/span>, driven by a 5.4% YoY<\/strong><\/span> increase in vinyl sales to \u20ac98 million<\/strong> ($106.1 million<\/strong>) and a 4.8% YoY<\/strong><\/span> drop in CD sales to \u20ac91.2 million<\/strong> ($98.7 million<\/strong>).<\/p>\n

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Chart: SNEP<\/figcaption><\/figure>\n
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SNEP noted that 2024 was the first year that vinyl sales revenue exceeded CD revenue since 1987. \u201cHowever, CDs remain more popular with 10 million<\/strong> units sold, two-thirds more than vinyl,\u201d the industry group said.<\/p>\n

Physical sales were driven by growth in direct-to-consumer channels such as artists\u2019 online stores, which were up 33% YoY<\/strong> and have grown fivefold in five years. SNEP attributes this to the growing connection between artists and fans that digital media have made possible.<\/p>\n

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\u201cThe \u2018armies\u2019 of K-pop artists have indeed led the way: across all genres, exclusive experiences and content offered through D2C are building fan loyalty,\u201d SNEP\u2019s report stated.<\/p>\n

\u201cThese ambassadors are making strong recommendations to the public through word-of-mouth, which is more influential than ever, at school, at work, or on social media.\u201d<\/p>\n

\u201cThe \u2018armies\u2019 of K-pop artists have indeed led the way: across all genres, exclusive experiences and content offered through D2C are building fan loyalty.”<\/p>\n

SNEP<\/span><\/p><\/blockquote>\n

One notable statistic in SNEP\u2019s latest report: Exports of French music soared 19% YoY<\/strong> in 2024, to \u20ac162 million<\/strong> ($175.3 million<\/strong>).<\/p>\n

The industry group attributes this to last year\u2019s Paris Olympics and Paralympics, along with labels\u2019 efforts to increase the popularity of French music abroad. Additionally, \u201cthe growth of global streaming is a key driver of this dynamic,\u201d SNEP said.<\/p>\n

French music is becoming increasingly popular inside France as well. Local artists \u201cdominated\u201d the charts in 2024, taking three-quarters of the spots among the 200 best-selling albums, and 18 of the top 20 biggest-selling albums.<\/p>\n

\u201cStreaming drives this success,\u201d SNEP said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The growing popularity of music streaming and a boost from the Paris Olympics propelled France to a large increase in music exports<\/p>\n","protected":false},"author":46,"featured_media":211801,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[669,133814,785],"class_list":["post-226119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-france","tag-recorded-music-revenues-2024","tag-snep"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/226119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=226119"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/226119\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/211801"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=226119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=226119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=226119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}