Streaming pushes Spanish industry revenues despite Pandemic

Even though in 7 days, the Spanish music sector is going to take the streets to protest for the situation of the business due to the pandemic, their earnings have not been as bad as they thought they would be.

Promusicae, predicted a total loss of almost 100 million euros this 2020 because of the COVID-19: 50 million only for the fall of music streaming. Although it is true that at the beginning of the lockdown the streams in platforms such as Spotify or Deezer falled, this does not seem to be the Spanish case. Against all odds, thanks to the streaming, the Spanish record industry earned a 4% more than the previous year the six first months of 2020.

The physical market did fall, more than a 50% on CD’S and almost a 8% on vynyl sales.