Streaming and vinyl give Belgian music industry a boost

The Belgian music market grew considerably in the first six months of this year, by 5.8% to nearly €50 million, reports Het Laatste Nieuws based on a press release from the Belgian Entertainment Association (BEA Music). The industry attributes the growth to the popularity of online music streaming services and an upswing in the CD market. Vinyl sales also increased significantly.

Following a difficult year in 2014, CD sales took a turn for the better in the first half of this year, with a 2.2% increase in turnover, from €26.8 million to €27.39 million. Subscriptions to music streaming services were the most notable climber this year, with revenues up from €7.43 million to €9.70 million, or an increase of 30.6%. That was at the expense of digital downloads, which fell 4.6% to €9.62 million. "A global trend," according to BEA Music.

Also notable is the increase in vinyl sales by as much as 47.1% to €1.89 million. "Vinyl records remain strong for their intrinsic vintage value and as a collector's item. They account for nearly 4% of total music sales," says BEA Music.