France | SNEP publishes its review of the year 2017 – recorded music market
On the 15th of February, SNEP – Syndicat National de l’Edition Phonographique presented the review of the year 2017 – being the second consecutive year in which the recorded music market has grown. Figures are encouraging, however the economic recovery is still fragile and should be approached carefully.
Picture of the French recorded music market
In 2017, the French recorded music market reached 723 million euros – increasing of 3.9% in comparison to 2016 (450 million euros). The market is driven at 42% by streaming, which developped by 23%. Streaming incomes are mainly made of subscriptions – representing alone 35% of the market revenues. This year, no less than 42.5 milliard tracks have been listened to on streaming platforms.
The French market: a specific market with a strong hold of physical format
In 2017, there is a near-parity between digital format (48.8%) and physical format revenues (51.2%). In France, the purchasing model is still proeminent – coexisting now with the access model. Therefore there is a double stake: “to maintain the strenght of the French physical distribution network, while encourageing the development of the digital market.”
For SNEP producers, the stake is to sustain the French tax credit for phonographic production. Implemented in 2006, it encourages local production and has a positive impact on public finances. According to a Xerfi study, published in November 2017, 1€ of tax credit spent generates an average of 3€ of public revenues.
The French mediatic landscape
Radio remains the first mean for music discoveries – 59% of the respondents affirmed discovering new music on the radio.
As for television, there is a lack of music representation on the schedule – especially during prime times.
The value-gap: a barrier to the growth of streaming incomes
The value-gap is the gap between the mass consumption of music on streaming video platforms -like YouTube and the low incomes payed by such platforms to artists and producers. This gap comes from services definition: YouTube describes itself as a content host.
In 2018, the copyright directive will be reformed – a measure that seems determining for the creative professionals.
French productions are a success in-house and worldwide
French productions are making up 3/4 of the 2017 Top 200.
42 newcomers are listing a debut album amongst the 200 best-sellers of the year – among them stand 38 French artists.
There is a strong hold of urban music in the 2017 Top 200.
On top of the list: Johnny Hallyday, Jul, Ed Sheeran, Kids United, Soprano, Lacrim, PNL, Damso, Vianney, and Niska.
Source : SNEP