The Belgian music industry generated revenues of €118 million in 2023, an uptick of 11% from the previous year, according to the Belgian Recorded Music Association (BRMA).
Digital sales accounted for 87% of all music sales (streams and downloads), contributing €103.27 million to the industry's revenue – a year-on-year increase of 12%. Meanwhile, physical sales made up just 12.6% of the market.
Streaming dominated the sector, raking in €100.74 million (+12.4%), emphasising the dynamic strength of this medium as the driving force of the contemporary music industry. "This growth underscores our belief that music is more accessible than ever before," commented BRMA President Patrick Guns.
Physical sales remained stable at €14.89 million, a slight increase from 2022's total of €14.28 million. This modest growth was largely fuelled by vinyl sales, which reached €8.96 million last year, representing a 12% year-on-year rise. In contrast, CD sales continued to decline.
BRMA Director Olivier Vandeputte described the considerable growth of the music market as clear proof of its resilience and innovation. "This growth is an evident sign that our collective efforts to create a sustainable ecosystem for music creation and distribution are bearing fruit," he said in a statement.
