Australia Music
Australian Recorded Music Industry Achieves Fifth Consecutive Year of Double-Digit Growth

The Australian recorded music industry marked an impressive milestone in 2023, with double-digit growth for the fifth consecutive year. Wholesale levels soared to their highest since the inclusion of digital sales in 2005, reaching $676 million AUD ($404 million USD). This surge was primarily driven by the dominance of digital sales, particularly through streaming services.

Subscription services continued to flourish, witnessing a significant increase of 13.9% and capturing a substantial 69% share of the industry. Ad-supported streaming platforms also saw notable growth, with revenue rising by 15.3%. Digital sales, collectively, represented a staggering 91% of all music sales, underlining the industry’s transition towards online platforms.

Amidst the digital boom, vinyl albums experienced a remarkable resurgence, with sales climbing by 14.1% to $42.1 million AUD ($27.4 MUSD). Vinyl not only retained its allure among enthusiasts but also emerged as a significant contributor to total physical sales, commanding 70% of the market by dollar value.

However, the traditional physical media landscape continued to evolve. Compact discs, DVDs, and music videos witnessed a decline in both revenue and volume sales, reflecting changing consumer preferences and consumption patterns.

Overall, the ARIA report for 2023 paints a picture of a dynamic and resilient music industry in Australia. With digital sales driving growth and vinyl maintaining its appeal, the industry remains poised for further evolution and adaptation in the digital age.

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