Finnish music export in 2021

In 2021, the market value of Finnish music export amounted to 93.1 million euro. The export income from live music was exceptionally low also in the second year of covid-19 pandemic, but other areas of music export grew as the digital markets strengthened.
Finnish music export 1999–2021

Because of the pandemic, international touring came to a halt. Accordingly, the export revenue from live music dropped by 75 per cent in 2020, and as the restrictions continued, the sector didn’t recover in 2021. The value of live music export in 2021 was 3.2 million euro. 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.

However, music was still consumed digitally, and the value of exported recordings increased to 7.5 million euro. The revenue streams include both physical record sales, digital sales and streaming revenues that the rights holders receive from abroad.

Copyright-related revenue, converted via Finnish copyright organizations, or paid directly to music companies, amounted to 5.9 million euro in 2021. Finnish pop song export has been able to thrive and grow during the pandemic, as songwriters have continued their work online.

Other revenue sources include such items as composition and production fees, the sales of sheet music, advertising contracts, and merchandise. These amounted to 1.3 million euro in 2021.

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 2021, the value of exports from the category “other goods and services” category totalled 75.2 million euro.

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 23 per cent of the overall export, and Nordic countries, with 18 percent share.

In this study, the value of music export is defined as the revenue from other countries than Finland, paid to the companies or taxpayers operating in Finland. The value is based on three main sources: reports by industry organizations, a survey directed to 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.