Italian Market Slumps 21% March 04, 2009
- Global
| Retail
By Mark Worden, Milan
According to data gathered by the auditors Deloitte on behalf of the major labels' representative body FIMI in Italy, music sales (CDs, music, DVDs and digital) fell by 21% in 2008.
Total sales (after returns) were worth €178 million ($223.7 million) in 2008, as opposed to €224 million ($281.5 million) in 2007.
According to a FIMI statement, total turnover in Italy in 2008 returned to the same level of 1989.
The €178 million total consisted of €156 million ($196 million) for audio (CDs), €6 million ($7.5 million) for video (music DVDs) and €14.5 million ($18.2 million) for digital. Audio, like the overall market, registered a drop of 21% from €197 million ($247.6 million) in 2007. Video fell by 47% from €11.3 million ($14.2 million) in 2007, while digital dropped by 1%.
The digital figures did, however, reveal a distinction between Internet downloads, which grew by 37%, from €5.5 million ($6.9 million) in 2007 to €7.5 million ($9.4 million) in 2008, and mobile digital content, which shrank by 21%, from €8.1 million ($10.2 million) in 2007 to €5.3 million ($6.7 million) in 2008.
Domestic repertoire accounted for 56% of CD sales in Italy in 2008, while international accounted for 39% and classical for 5%.
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