Streaming Music Hits $96m Down Under, Record Industry Reports
SYDNEY – Streaming music services are streaming away with the market for recorded music in Australia, the latest figures from the Australian Recording Industry Association (ARIA) reveal. Services operated by the likes of Spotify, Apple Music and Google Pay in the six months to June brought in revenue of A$96.9 million, up 57 percent, ARIAs latest report shows.
That compares with just $32.9 million for physical CD albums, a figure that was down almost 13 percent on the same period of 2016.
ARIA also reports that vinyl albums have continued to make a strong comeback, recording 12pc growth in sales to $7.4 million in the half year.
Chief executive Dan Rosen told media he believes Amazon will soon join Apple, Google and Spotify in the streaming industry.