In 2022, the market value of Finnish music export amounted to 130.6 million euro. The new figures show an increase by 40 percent, amounting to the partial recovery of the live music export, as well as growth in copyright sector and digital music applications.
In 2022, Finnish music export started to recover from the covid pandemic. The sector most affected by the pandemic, the export of live music, did not yet reach 2019 figures, but recording sales remained at the previous level and income from copyrights increased distinctly. In total, the core areas of music exports grew by 40 percent and now brought in 25.6 million euro to Finland.
For example, music-related applications and services continued their success, and the export value of the “other goods and services” sector related to the music industry was now 104.9 million euro. In addition to digital music applications, the value of the sector includes, among others, professional equipment related to sound reproduction and the export of musical instruments.
Including all sectors, the value of music export in 2022 was 130.6 million euro.
The export revenue from live music grew by 154 percent in 2022 to 8.1 million euro, remaining at 56 % of their value in 2019. The value of live music export includes performance fees and other touring income, as well as event tourism, namely ticket sales from abroad for music events in Finland.
Export value from recordings remained at the previous level and amounted to 7.2 million euro in 2022. 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, grew 40 percent to 8.6 million euro in 2022.
Other revenue sources include such items as composition and production fees, the sales of sheet music, advertising contracts, and merchandise. These amounted to 1.8 million euro in 2022.
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 2022, the value of exports from the category “other goods and services” category totalled 104.9 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 31 per cent of the overall export, and Nordic countries, with 12 percent share. Outside Europe, the main market area for Finnish music export is North America, with 14 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.