Australian Market Up 4%

The Australian recorded music industry grew 4 percent in value last year to $410 million, the Australian Recording Industry Association (ARIA) announced.

It was the first rise in annual wholesale figures since 2009.

Much of this was due to a 57.54 percent  rise in digital sales, as 10 subscription services hit the market last year.
Digital sales soared to more than 119 million units, worth $189 million to the industry – a 31 percent rise in dollar value from 2011.

According to ARIA, digital now makes up 46 percent of the market’s value, compared with 36.7 percent the year before.
Physical product continued to slide, but only by 6.42 percent, compared with the 13.8 percent drop in 2011.

“While our work with Government and ISPs to ensure artists and their record labels are properly rewarded for their creative efforts is still far from finished, the demand for music is as strong as ever and Australian music fans are embracing the many legitimate platforms where an incredible range of local and international music is widely available,” said ARIA chairman Denis Handlin.