Music streaming market in Bulgaria on the rise

published on 5/5/20 3:37 PM

Photo: IFPI

Revenues from online streaming in Bulgaria have increased by 65% in 2019. The Global Music Report 2020 of the International Federation of the Phonographic Industry (IFPI) shows that 33.2% of streaming services come from the Bulgarian music market. The revenue in the music sector amounts to USD 7.3 million, which is a 22.1% increase on 2018.

"Overall, digital revenue is far from its potential due to the chaotic and incomplete digitization of Bulgarian music," members of the Bulgarian Association of Music Producers comment.

The revenue for music performers and producers are expected to grow after the introduction of the unique ISRC codes in Bulgaria in 2020.

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Radio Bulgaria Music Bulgarian Association of Music Producers Global Music Report IFPI ISRC music producers streaming

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