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Germany’s Recorded Music Biz Reports Growth In First Half

First-half revenue from physical and digital music formats rose to a total value of €660 million ($881 million), up 1.5% compared to the first-half of 2012, according to the Assn. of the German Music Industry (BVMI). It’s the first uptick in the German recorded music market for more than 10 years.

The largest gains were in digital. Revenue from downloads and music streaming grew by 16% in the first half, offsetting the 2.5% decline in shipments of physical recordings. Though the popularity of physical soundcarriers continues to diminish, the rate has slowed significantly compared to previous years.

“Music usage is shifting to digital formats, but unlike in many other markets, here in Germany this shift is not occurring at the expense of the overall market, but indicates a market diversification with positive portents,” comments Florian Drücke, managing director of the BVMI, in a statement.

Read the full story: Billboard