The Swedish audio market is increasingly reliant on online streaming services. Digital music, books and podcasts are growing steadily. During 2020, a year strongly influenced by the pandemic, this development was accelerated and the market for music and audio book streaming grew by 13%, or SEK 400 million, compared to 2019.

The advertising market for radio weakened substantially in 2020. Less traveling, especially commuting, also led to a decrease in radio listening. Likely, this contributed to the loss of advertising of SEK -90 million¹ (-9%) compared to 2019. In contrast, Mediavision can conclude that for subscription based streaming audio services the development was the opposite. Digital paid services grew significantly in 2020. Growth was recorded despite the number of subscribing households being stable at 50%, i.e. households paying for any digital audio service. Mediavision estimates that the combined market growth 2020 for music and audiobook services amount to approx. SEK 400 million. This equals a growth of 13% year-on-year, despite stable household penetration.

Growth on the music streaming market, which in Sweden to large extent is driven by Spotify, is highly related to a general price increase. Mediavision estimates, based on the households spend, that revenues from music streaming subscriptions in Sweden amounted to approx. SEK 2,4 million, with +9% growth compared to 2019 (SEK 190 million).

Within the audio book streaming market, growth is instead ascribed the decreased digital tax, effective from 1st of July 2019. Maintained price levels meant an increase in revenue of close to SEK 200 million in 2020. Mediavision estimates the total audio book market value to approximately SEK 925 million in 2020, an increase of close to 30% from 2019.

The digital, online transformation is evident within all audio markets, says Marie Nilsson, CEO of Mediavision. We are anticipating an eventful 2021, where local as well as global actors prepare themselves for a quickly growing streaming consumption within music, books and podcasts. Most likely, the traditional radio advertising market will recuperate in 2021, which leads Mediavision to believe that 2021 will be yet another strong year for the Swedish audio market.

¹ Source: IRM

About Mediavision

Mediavision is an independent analysis and consultancy firm, focused on analysis and
strategy within traditional and digital media. 3,000 respondents between the ages 15 to 74 are surveyed each month in Sweden.

For more information, please contact:
Marie Nilsson
E-mail: marie.nilsson@mediavision.se
Tel: 08-52 80 90 90 / +46 (0) 70 749 59