Vinyl is doing well in the music market in France
A sixth consecutive year of growth for the recorded music market. This is the lesson to be learned from the study published Monday, March 13 by the National Syndicate of Phonographic Publishing (Snep). Snep reports a turnover of 920 million euros last year, with “significant growth despite a complex environment, marked by economic uncertainty” and “inflation”. Revenues from sales have returned to “the level of 15 years ago, but only reached 52% of the historic peak of 2002”, specifies the organization.
Sales (therefore, excluding neighboring rights and synchronization of films, advertisements, video games), amounting to 766 million euros, are based “three-quarters” on “digital exploitations”. Or 569 million euros including subscription streaming and ad-supported streaming. Physical media, CDs and vinyl, make up the remaining quarter compared to digital, “exactly the opposite of 10 years ago”. Subscription streaming, to the tune of 426 million euros, is “up 11% compared to 2021”, continues the Syndicate.
TikTok, a platform that does not pay enough
If “16 million users have adopted paid streaming, the use is still far from reaching the goal in conquering all audiences”, according to Snep. The “major challenge” for platforms and producers is to “convince consumers, young and adult, to take the subscription step” to reach “the levels of the other major music markets”, notes Alexandre Lasch, general manager of the Snep.
France is only in 16th position in the world ranking of subscription streaming (the leading trio is made up of Sweden, home of Spotify, leader of global music platforms, the United Kingdom and the United States).
“It’s a French progression, in diesel mode”, comments Olivier Nusse, president of Universal Music France and vice-president of Snep. “Compared to other countries that have reached maturity in subscription streaming, we have some exciting years ahead of us,” predicts Marie-Anne Robert, president of Sony Music France and member of the board of Snep.
Among the other challenges, Olivier Nusse dwells on TikTok, a platform “which does not pay at all the height it should for the music used”. The leader of Universal Music France is also worried about “the time spent” by young audiences on TikTok, “time lacking in paid streaming”. “And this trend, we only see the beginning”, insists Olivier Nusse.
Alain Veille, president of Warner Music France and member of the board of Snep, points out the questions raised by artificial intelligence: “It is both a real innovation, but it is also a point of vigilance to have for the protection the (intellectual property) rights of our artists”.
The vinyl is spinning
Coming back to physical media, the CD, the second source of sales despite a 25% drop, is closely followed by vinyl. The latter, up 13%, “now represents 45% of physical sales, against less than 1% 10 years ago”, underlines Snep again. With 5.4 million units sold, the famous black cake is therefore continuing its momentum and growing in volume, even if this growth remains more modest compared to last year: “the crisis in raw materials combined with insufficient production remains an issue for producers”, specifies the union.
But the return of vinyl is becoming a global trend. For the first time since 1987, there were actually more vinyl records sold in the United States in 2022 than CDs, proof of the enthusiasm for this format, which has become very fashionable again.
Finally, the “projects of artists produced in France and singing in French” confirm “this year again their remarkable performances”, with “17 albums in the Top 20” of sales in 2022.
In the Top 10, there is even 100% French production, with two Belgian artists, Stromae and Angèle, but who are produced in France. What to be proud of compared to the cinema market in France, marked in 2022 by a Top 10 box office filled 100% by foreign films.