The retail turnover of music and video recordings in specialized stores in Spain has shown a steady decline from 2016 to 2023, with a notable drop from 12.9 million Euros in 2016 to 8.6 million Euros in 2023. The year-on-year variations reveal significant fluctuations, including a notable decrease of 20.16% in 2017 and a decline of 10.78% in 2020. The compound annual growth rate (CAGR) over the past five years, up to 2023, stands at -6.01%. Moving forward, the forecast indicates a continuous decrease in turnover, with an expected CAGR of -1.49% until 2028.
Future trends to watch for include:
- The increasing shift towards digital and streaming services, which continues to impact physical sales negatively.
- Potential resurgence of vinyl and other niche markets which could offer modest growth opportunities.
