The turnover of the Sound Recording and Music Publishing industry in Italy saw significant fluctuations from 2013 to 2023. Initially, there was steady growth peaking in 2016 at 452.4 million Euros. However, a marked decline occurred in 2017, with turnover dropping to 346.8 million Euros. While there was a recovery with notable increases in 2019 and 2020, the turnover steadily decreased from 2021 onwards, reaching 371.7 million Euros in 2023, close to the projected lower stable trends for the subsequent years up to 2028.
Key trends:
- Year-on-year growth showed significant variability, with highs in 2016 and lows in 2017 and 2021.
- The Compound Annual Growth Rate (CAGR) over the last five years (2019-2023) showed an average annual variation of approximately 1.17%.
- Forecasted data from 2024 to 2028 indicate a marginal and steady decline in turnover, signifying a stable yet non-growth future trend, with a forecast five-year CAGR of -0.04%.
Future trends to watch for:
- The impact of digital transformation and streaming services on the traditional music publishing revenues.
- Potential regulatory changes affecting copyrights and the valuation of music publishing rights.
- The role of emerging technologies, such as blockchain and NFTs, in shaping new revenue streams within the music industry.
