- Big increase in sales of goods; over 70 percent growth in Finnish artists royalties
Recent figures for the total market value of Finnish music exports show a continuing upward trend, ideal timing for Finland as it prepares to host the Midem Opening Night, and is thus poised to pursue even greater growth. The total market value of Finnish music exports increased from about 20 million euros in 2003 to 21.7 million euros in 2004. The average growth in aggregate market value since 1999 has been 26% annually.
The research spans the entire Finnish music industrys earning logic, from sales of goods and services to copyright royalties in 2004. The combined value of these sectors comprises the total value of exports.
In particular, sales of goods increased significantly in 2004 climbing to a total of 9.4 million euros. Sales of goods comprise record sales, licensing of records and royalties, which showed particularly high levels of growth; royalties accrued by artists signed to domestic labels increased by 76 percent to 6.0 million euros. There was less touring in 2004, as many bands put their time into releasing important, top-selling albums, as reflected in export sales of services. Sales of services were valued at 6.0 million euros.
GSA and Nordic countries key areas for Finnish music exports
Germany, Switzerland, Austria and the Nordic countries make up over half the export market for Finnish music. Most copyright royalties still came from the Nordic countries, but the GSA area was the major market for sales of goods and services. Another major component of copyright income originated in the UK, France and the Benelux countries, while Eastern Europe and Asia were more interested in purchasing goods and services.
Another notable feature is that Japan has raised its status as a target market for Finnish music exporters. Estonia and the USA also emerged as important targets for music exports.
Details of the research:
- 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 Copyright Society of Performing Artists and Phonogram Producers in Finland GRAMEX also reported data. Media Clever Oy/Ltd collected information from sectors and companies not included in the data from these organisations.
- This study contains information only on music exports and cash
flows into Finland from these export activities, and not for example on the impact of music exports on employment. The accumulated impact of the music industry as a whole is far more significant to the Finnish economy.
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Further information:
Music Export Finland, Paulina Ahokas, Director
Email: paulina (at) musex.fi
Gsm: +358 (0)40 5511 551
Media Clever Oy, Sami Vehkaluoto, Research Director
Email: sami.vehkaluoto (at) mediaclever.fi
Gsm: +358 (0)40 8389 428
Research presentation available from the link below:
UPWARD TREND IN FINNISH MUSIC EXPORTS CONTINUES
on 2005-10-21