In 2019, the market value of Finnish music export amounted to 81.7 million euros, an increase of four percent from the year before. Live music and recordings gained strength, whereas copyright and other revenue sources declined close to their previous level.
Live music, recordings, copyrights and other related revenue comprise the key sectors of music exports. Live music exports continued to be the largest sector, totalling 14.5 million euros. The live music sector includes performance fees and other touring income, as well as event tourism, namely ticket sales from abroad for music events in Finland.
The value of exported recordings (including streaming) grew to 7.1 million euros, reflecting the growth of recording market in general. The revenue streams include both physical record sales, digital sales and streaming revenues that the rights holders receive from abroad. In addition, it includes licensing fees for recordings and synchronisation.
Copyright-related revenue, converted via Finnish copyright organisations, or paid directly to music-industry businesses, amounted to 5.2 million euros in 2019. The yearly revenue varies typically from year to year.
Other revenue sources include such items as composition and production fees, sales of sheet music, advertising contracts, and merchandise. These amounted to EUR 2.9 million in 2019.
For several years running, the biggest success in music exports has been in music-related apps, services and technology, including export revenues from professional audio equipment and start-ups producing digital services. In 2019 the value of exports from this ‘other goods and services’ category totalled 52.1 million euros.
The main target area for Finnish music export is Europe, comprising over three quarters of the overall income. Within Europe, the main market areas are German speaking-Europe with 24 per cent of the overall export, and Nordic countries, with an 18 per cent share.
In this study, the value of music export is defined as the revenue from other countries than Finland, payed to the companies or taxpayers operating in Finland. The value is based on three main sources: reports by industry organisations, a survey directed at Finnish music companies, as well as expert evaluations by informants in the music industry.
The data was collected by Research Manager Merja Hottinen of Music Finland and by researcher Tuomas Ilmavirta.