Upcoming Trade Shows in Germany for Music

Germany’s music industry embodies the essence of a comeback story. After a demoralising hit during the pandemic, the music sector has found its feet again with the support from streaming services. According to the German Music Industry Association, recorded music revenues hit €2.208 billion (US$2.389 billion) in 2023. That’s a 6.3% increase year-over-year. Streaming services are the clear leader in music consumption, accounting for 74.8% (€1.651 billion) of the market in 2023, while the live music segment recuperates. This trend is further supported by a 12% increase in the total number of streams compared to 2022, which reached 213 billion streams last year. While streaming dominates, physical formats like CDs and vinyl still hold a niche market. CDs remain the second-largest format, accounting for 11.3% of the market, despite a slight decline from 2022. Vinyl sales also experienced a modest increase, reaching 6.3% of the market share. The German Music Industry Association has also done some digging on the relationship between record labels and artists. A recent study done by Oxford Economics Research Institute reveals that payments to artists by record labels in Germany have more than doubled in the past 12 years. In 2010, artists received around 21% of music companies' revenues, while in 2022, that figure jumped to 43%. Dr. Florian Drücke, Chairman & CEO of German Music Industry Association, comments on the increasing share going towards artists: ‘Payments to artists have risen by 132% since 2010, while the labels’ income has increased by 17% in the same period.’ Drücke highlights the importance of recognizing the entrepreneurial risks taken by music labels, particularly through advances paid to artists regardless of their success. He also points out that record companies reinvest a big chunk of their income – around a third – into developing and marketing new talent and music.