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It’s official: Australian ITC, Media Industries Income Hits $73bn

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Internet-related activities directly accounted for over a quarter of this income, or $19.7 billion, the ABS said, launching its Information Media and Telecommunications Services: Australia 2013-14 report.

“Key findings show the impact of the Internet is changing business models” Down Under, said the ABS’s Marie Apostolou. “Income is increasingly being generated by Internet-driven products, including online news sites, streamed media content, and Internet applications hosted via cloud services.”

ISPs, Web search portals and data processing services represented the fastest growing subdivision of the overall industry, with sales and service income increasing 17.4 percent to $5 billion.

Telecommunications services accounted for almost 60 per cent of sales and service income, up more than $300 million on the previous year.

Meanwhile traditional media sales were shrinking. “The publishing subdivision experienced declining sales and service income of minus 7.3 per cent, down from $10.5 billion to $9.7 billion), while broadcasting was flat at $9.7 billion,” Stats says.

The Information Media and Telecommunications Services report is available for download at www.abs.gov.au.