The music industry has suffered a severe blow as a Denmark Email List result of the coronavirus crisis and the last few months have not been easy for this sector. However, during the first half of the year strongly marked by the pandemic that put an end to physical events, the consumption of music through digital streaming Denmark Email List platforms has saved the sector in Spain from the decline . This is revealed by Promusicae , the association of Music Producers of Spain. In the first half of the year, the industry has managed to resist and has registered a 3.99% rebound in its global sales figures , despite the fact that revenues from the physical market have plummeted Denmark Email List almost 45%.
During this period and according to the Denmark Email List entity’s figures (which represents close to 95% of the Spanish phonographic industry), the sector’s income reached 145.1 million euros, compared to the 139.5 million euros that it added in the same period last year , although the growth is far from that obtained in previous years. It should be noted that digital models already represent Denmark Email List almost 88% of total revenue. “After long years of work, innovation, adaptation and investment in the industry, we can boast of having achieved a high digitization in the distribution of recorded music , something that, in circumstances like the Denmark Email List current ones,
benefits us and that, unfortunately, have not Denmark Email List achieved other sectors of the economy. The fact that the industry has proven to be resilient in the COVID crisis in the first half of 2020 is very gratifying and is the result of the sale leads companies’ successful digital strategy in recent Denmark Email List years, ”explains Antonio Guisasola, President of Promusicae. «In times of pandemic and domestic seclusion, record companies have been practically the only source of income for many artists, given the general decline in their activity and the Denmark Email List impossibility of organizing live concerts, “he adds.
