Coronavirus, Fimi launches the alarm: “Potentially serious effects for the record market”

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The economic consequences of the Coronavirus pandemic on the Italian record market are already and according to the Fimi (Federation of Music Industry Italy) growth in Italy will stop “with potentially very serious effects in the coming months“. Fimi denounces with an alarm cry what is happening in these days on the Italian record market with shops and entertainment chains closed, many publications sent back to after the summer and with inaccessible recording rooms to avoid any contact and contagion, according to the rules issued by ministerial decrees.

The numbers are clear: one has occurred in recent weeks flexion net on the physical segment (cd and vinyl) of over 60%, on related rights of over 70%, due to the closure of commercial establishments and the absence of events. It is no better on the streaming side since many record releases have been postponed and the fact that many consumers have stayed at home. In fact, according to IFPI data (the international trade association of record companies) in Italy the 76% of those who listen to music do so in the car, is 43% on the journey from home to work. Beyond the measures that emerged from the Cura Italia decree, the companies ask for a later stage, when the situation returns to full capacity, economic names with immediate effect such as the tax credit for all the works, 4% VAT reduction as well as for publishing and the extension of the culture bonus, just re-launched for young people born in 2001, to a wider audience of consumers.

In the midst of many not certainly positive news, from IFPI (International Federation of the Phonographic Industry) the data relating to 2019 arrive more than positive. Total growth of 8%, the highest in five years, for a value of 247 million euros. Increase streaming with + 26.7%. In Italy too digital represents an important market share: over 70% of all revenues. Specifically, the overtaking of free streaming audio, supported by advertising on video streaming, is underlined with 21 million euros against 18 million. Physical segment in decline, now down 13.8%: if the CD shows –20.9%, the vinyl instead manages to hold with a + 7.3%.

In anticipation of 2020, numbers are worsening precisely because of the current international crisis linked to Coronavirus. Also important are the numbers related to Culture bonus, in 2019 revenues of almost 20 million euros. Finally, Italian production represented 87% of the best-selling albums in 2019. Certainly numbers that will drop drastically since for the next few weeks, the recording rooms will remain still, while day after day the concerts and tours are blocked, canceled or postponed.


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If you are here it is clear that you appreciate our journalism. As you know, an increasing number of people read Ilfattoquotidiano.it without having to pay anything. We decided it because we are convinced that all citizens must be able to receive free and independent information.

Unfortunately, the kind of journalism we try to offer you takes time and a lot of money. Advertising revenues are not enough to cover the costs of ilfattoquotidiano.it and pay all the collaborators necessary to always guarantee the information standard we love.

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Thank you,

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