Swiss music labels feel the blues
Swiss music labels saw turnover continue to fall in 2015, with CD sales also dwindling. In addition, digital downloads felt the pressure from streaming services.
The 35 or so music labels which make up the Swiss branch of the International Federation of the Phonographic Industry (IFPI) reported total turnover last year of CHF81.8 million ($82.8 million), a 3.5% drop on the previous year.
Since 2001, the Swiss music market had shrunk by 73%, the association said on Wednesday.
The digital market bounced back after decreasing by 3% in 2014 to report a 7% increase. Sales totalled CHF39.9 million. Of this, CHF15.3 million was down to streaming services (a jump of 30%), which more than made up for a 4% loss in downloads to CHF24.6 million.
Income from CD sales made up the remaining CHF42 million. The fat lady isn’t singing yet for compact discs, but she’s certainly warming up: CD sales continued their downward trend, falling by 12%. Not included in the figures are direct imports by CD outlets or purchases by consumers abroad.
Music to some people’s ears was the continuing vinyl revival: turnover from records increased by 50% to CHF2.5 million, the highest level since 1993.
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