In 2023, it was a particularly strong year for arena concerts in Sweden, with performances by superstars such as Coldplay, Beyoncé, Metallica, and Bruce Springsteen. Domestic ticket sales for concerts and festivals also increased in 2023 compared to 2022. This is stated in the report "The Music Industry in Figures", which has been published annually since 2009.
The total economic value of streamed music also increased, partly due to a larger number of subscribers and more expensive services. The copyright revenues in the industry also increased.
At the same time, Musiksverige is warning of uncertainty about the future. One of the question marks concerns the development of streamed music, where there are tendencies of slowdown on the larger international markets. Another uncertainty is about the development in the coming years due to competition from AI-generated music.
"We are entering a more uncertain future with several questions that we do not know the answer to today," says Ludvig Werner, chairman of the board for Musiksverige and CEO of the music companies' industry organization Ifpi Sweden.
In 2023, the value of domestic ticket sales for concerts and festivals exceeded 6 billion kronor for the first time, an increase of 16.9% compared to 2022.
The total domestic economic value of streamed music amounted to 3.9 billion kronor in 2023, an increase of 6.6% compared to 2022.
The copyright revenues amounted to 4.4 billion kronor in 2023, domestic and export combined, an increase of 17.3% compared to 2022.
The growth has been partly affected by macroeconomic factors such as inflation and exchange rate changes.
Source: The Music Industry in Figures
