Australia’s Record Business In 2019 Posts Best Result In 15 years, Powered by Streaming

Last year seems a lifetime ago. It was certainly a happy time for the Australian recorded music industry, which posted its fifth consecutive year of growth, with streaming services again leading the way, new data shows.

Streaming was the pumping heart of the Australian industry in 2019, generating $445 million , or more than 80 per cent of the overall music market, according to wholesale figures published Wednesday by ARIA. Indeed, the 2019 figure is the best since 2004. It’s a bonanza when compared with the corresponding figure a decade ago, in 2010, when the market was valued at A$384 million, a time when streaming was in its infancy and CDs were king .

Strip out the rocket-fueled streaming sector and it’s not a pretty picture. Every other format contracted in value last year, with the exception of vinyl albums, which enjoyed modest growth at 2.5 percent to $22 million , or roughly two-thirds the value of the market for CD albums.

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