Music industry in Finland - statistics & facts
The Finnish music industry today is characterized by digital transformation. Digital sales have accounted for the majority of recorded music sales since 2014 in Finland. In 2023, almost 92 percent of the recorded music industry revenue was generated by digital music sales, which reached 53.9 million euros that year. At the same time, the revenue from physical music sales has fallen steeply, dropping to 4.72 million euros in 2023. However, recorded music sales have seen an upward trend in recent years, despite the declining physical music sales. After falling below 36 million euros in 2014, music sales started to grow again and reached 58.59 million euros as of 2023.
The largest music companies in Finland are Universal Music, Warner, and Sony Music Entertainment Finland, each holding a 29 to 36 percent market share. Finnish music in the 20th century was first dominated by schlager music and jazz, later moving on to rock, pop, heavy metal, hip hop, and rap. Finnish listeners are known for their love of heavy rock and metal music, with bands such as Nightwish, HIM, Children of Bodom, and Iron Maiden enjoying popular success. However, international artists and bands made up the majority of physical music sales in 2023.
According to a 2022 survey, radio was the most common source for discovering new music. Approximately one-third of music is accessed via YouTube, and paid streaming services account for one-fourth of usage. As of 2022, the most popular digital music platforms among Finns are YouTube and Spotify. During the coronavirus (COVID-19) lockdown, the use of digital services for music streaming somewhat increased in Finland. The share of users streaming music on Spotify and Facebook grew by five percent, and Youtube and Instagram were also used slightly more frequently for music streaming in April 2020.
The largest music companies in Finland are Universal Music, Warner, and Sony Music Entertainment Finland, each holding a 29 to 36 percent market share. Finnish music in the 20th century was first dominated by schlager music and jazz, later moving on to rock, pop, heavy metal, hip hop, and rap. Finnish listeners are known for their love of heavy rock and metal music, with bands such as Nightwish, HIM, Children of Bodom, and Iron Maiden enjoying popular success. However, international artists and bands made up the majority of physical music sales in 2023.
According to a 2022 survey, radio was the most common source for discovering new music. Approximately one-third of music is accessed via YouTube, and paid streaming services account for one-fourth of usage. As of 2022, the most popular digital music platforms among Finns are YouTube and Spotify. During the coronavirus (COVID-19) lockdown, the use of digital services for music streaming somewhat increased in Finland. The share of users streaming music on Spotify and Facebook grew by five percent, and Youtube and Instagram were also used slightly more frequently for music streaming in April 2020.
