Mediavision: The Swedish music streaming market grew by SEK 170 million in 2021
15 February 2022
Mediavision concludes that 2021 turned out to be a strong year for the Swedish music streaming market. Primarily, increasing prices contributed to growth, as the number of paying households remained stable. During 2021, total revenues from paid subscriptions grew by 7 per cent, or SEK 170 million.
Total revenues on the Swedish music streaming market amounted to approximately SEK 2.5 billion in 2021, following growth of 7 per cent or SEK 170 million compared to 2020.
Mediavision can conclude that several of the services available on the Swedish market increased prices last year – including Spotify, Amazon and Deezer. This explains much of last year’s growth. In addition, subscribing households have to a higher extent signed up for subscription tiers which allow for multiple users, e.g., different types of family-offerings. Hence, household spend has risen whereas the cost for each individual user has decreased.
– The music services’ revenue growth during 2021 is highly interesting. For several years, we have seen the Swedish market maturing – with a stable number of subscribers. However, in 2021 we observe vastly increasing household spend on music subscriptions, comments Marie Nilsson, CEO of Mediavision. This is, to great extent, a consequence of price hikes – partly driven by exclusive podcast content now being included in the subscriptions. Should this trend prevail, we may expect the audio market to become more similar to the video market, where exclusive content play a vital role today. As for audio services, video services have also increased prices gradually, following substantial investments in e.g., sports rights and drama productions.
Total revenues for the music streaming market in Sweden today is approximately half of total revenues for the video streaming market. SVOD-services attained combined total revenues of close to SEK 5 billion in Sweden during 2021.
Mediavision is a Nordic independent analysis and consultancy firm, focused on analysis and strategy within traditional and digital media. 3,000 respondents between the ages 15 to 74 are surveyed each month in Sweden.
For more information, please contact:
Tel: 08-52 80 90 90 / +46 (0) 70 749 59 67