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Australian recorded music
industry figures for 2020
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The Australian recorded music market grew by 7.3% in 2020 according to new wholesale figures released today by the Australian Recording Industry Association (ARIA). The growth was driven by a rise in revenue from streaming services and vinyl, which offset a drop in revenue for digital downloads and CD sales.
It is the sixth straight year of growth for the recorded music industry which now generates $542 million in revenue per annum.
Vinyl albums saw a 32% rise YOY and now make up 5.4% of the music market. CD wholesale figures show a drop of 17% YOY and now make up 5.6% of total revenue.
Streaming services saw a rise of 14% YOY and make up 82.3% of the total market in 2020 across all services, including subscriptions, ad supported models and video services, down from growth of 30% in 2019. Digital sales were once again down, decreasing 27% YOY to 6.0% of the total market in 2020.
The growth in the recorded music market reflects the important role that music played for Australians going through a very challenging year with numerous lockdowns and widespread uncertainty due to COVID-19. Despite the growth in recorded music, it has been a very challenging year for the music industry as a whole with live music shut down in March 2020 and still running well below capacity.
Key highlights from the 2020 results:
Vinyl is $1m short of overtaking CD in wholesale revenue and is projected to overtake CD value in 2021.
2020 marks six consecutive years of growth in recorded music revenue.
The growth in the Australian music revenue is in line with the 7.4% global growth announced by IFPI.
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See the full statistic at the ARIA website.
Find out more about ARIA at http://www.aria.com.au
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AMNPLIFY – DB
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My nickname is “The Amnplifier”. Why? Because around here my focus is on being a conduit for providing greater outcomes that people come here for. My day to day “work” is living in the moment, and I love helping others concentrate on finding their connection to themselves through their experiences.
Why start a music environment? The truth is I love music, I love writing, and I love life. I work with musicians every day, and I feel certain that I will be until they put me in the ground. I have been managing people in businesses of some sort for over thirty five years so along the way I have developed some “wisdom” from my regular and constant “observations”.
Amnplify your experience. That is what we want you to do here, and if you want to let me know why you do, or don’t, shoot me a message on Facebook.
Hope you enjoy yourself here and find something that hits you somewhere.
