Online streaming drives first increase in music industry revenue in years
The Australian music industry’s revenue has gone up for the first time in three years, driven by a doubling in music streaming services, while music downloads continued their decline.
Key points:
Digital streaming now accounts for 62 per cent of music streaming market
Downloads, CDs continue to slide
Artists getting low returns from streaming services
New figures from the Australian Recording Industry Association (ARIA) show a 5 per cent increase in the value of Australian recorded music in 2015, the first upwards trend the industry’s had in its wholesale figures since 2012.
The turnaround has been driven by a continued uptake in digital streaming, which now accounts for 62 per cent of the overall market.
Full Story: ABC
