The general director of the National Phonographic Publishing Union, Alexandre Lasch, is delighted with the increasing figures on the French music market.
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For the 7th consecutive year, the National Phonographic Publishing Union (Snep) announces increasing figures in the music market, more than 5% in 2023 and nearly a billion euros in turnover. Subscription streaming revenues also increased by 10%. “This growth is primarily for the benefit of artists produced in France”rejoices Alexandre Lasch, general director of the National Phonographic Publishing Union.
More good news, in 2023: “the physical media market is stabilizing”explains Alexandre Lasch who cites the CDs and vinyls which have “stopped falling”. “We see that the leading contingent of CD and vinyl buyers are young people under 35. They represent 43% of CD buyers and 54% of vinyl buyers”specifies the general director of Snep.
“Even if streaming revenues are growing, they are not growing enough in France”, he explains. The challenge is to continue to convince more people to subscribe to streaming platforms. “Our market, with the same population, is half that of the United Kingdom”, explains Alexandre Lasch. It evokes “a willingness to pay more difficult to find” In France, “in these times of inflation having several subscriptions can be complicated”. Alexandre Lasch also points to competition with platforms like TikTok “which distracts some of the attention of music fans”.
