According to a recent study, the market value of Finnish music exports increased in 2005 to 29 million; an increase of 33% and over 7 million euros from 2004. The reasons behind this success are increased export activities among music companies, along with the growing number of high-quality products on the marketplace.
The success of Finnish music on the international market continues. Figures showing a remarkable upward trend in the market value of Finnish music exports in 2005 were released on October 27. The research indicates that the total value increased in 2005 from 21.7 million to 28.9 million, which represents a growth of 33%. Overall, Finns can be proud of the rising value of music exports, since the annual growth rate since 1999 has been 40%
According to the research, the most significant exporting territories for Finnish music companies are still the Scandinavian and the German-speaking countries, but major territories, such as the USA, UK and Asia especially Japan are steadily growing in importance. In particular, income generated by products and services outside of Scandinavia and the GSA increased considerably in 2005. Businesses are recognising this development and, according to the study, are looking at broadening their target markets in the near future.
Companies Eager to Invest in Exports
The study also shows that Finnish music companies are ready to invest in exporting, and believe there will be growth in their business on the global market (85% of the companies consider the outlook positive). The range of exported products has become more diverse than ever before, which opens new possibilities and income streams for businesses.
Paulina Ahokas, Director of Music Export Finland, says there numerous factors have together resulted in Finnish music succeeding abroad: Without high-class music education, a well-organised business framework, diversity of culture and professional expertise, Finnish companies would not be able to deliver such good results. It is indeed great to hear that businesses are eager to invest more in exporting, and that they can realistically expect a return on their investment.
Ahokas continues: There are several new income streams that companies can now utilize. One example of these is song-plugging and international co-writing, which are finally taking off in Finland. The potential here is absolutely huge, so now we only have to take advantage of it.
Facts about the study:
- Conducted by: Media Clever, Research Director Sami Vehkaluoto
- The data were collected by the Finnish National Group of IFPI and the Finnish Music Publishers Association. The Finnish Composers Copyright Society Teosto, Nordisk Copyright Bureau (NCB) and Gramex, Copyright Society of Performing Artists and Phonogram Producers in Finland also released their own data. Media Clever Oy/Ltd collected information from sectors and companies not covered by the above-mentioned organisations data.
- This study contains information only on music exports and on cash flows returning to Finland from these export activities, and not, for example, on the impact of music exports on employment. The cumulative impact of the music industry as a whole is far more significant to the Finnish economy than these figures reveal.
Download the pdf-presentation here
Further information:
Media Clever Oy, Sami Vehkaluoto, Research Director
Email: sami.vehkaluoto@mediaclever.fi, Mobile: +358 40 8389 428
Medianoche, Mii Saraskoski, Publicity and PR
Email: mii.saraskoski@medianoche.net, Mobile: +358 44 550 1877
Music Export Finland
- Paulina Ahokas, Director (away 1 Nov - 2 Jan)
Email: paulina@musex.fi, Mobile: +358 40 5511 551
- Ville Kilpeläinen, Acting Director 1 Nov - 2 Jan
Email: ville@musex.fi, Mobile +358 45 678 0393