Music streaming has officially taken over, accounting for more than half of total music sales in Australia.
For the first time, revenue from music streaming services including Spotify, Apple Music, YouTube and Google Play accounted for 54 per cent of the overall market, raking in $213 million last year, according to data released by the Australian Recording Industry Association (ARIA).
Overall, music sales are up and the industry has recorded its highest annual growth since 1996 at a 10.5 per cent increase, taking in a total of $391 million in music sales.
But in a twist, vinyl sales are on the increase for the seventh consecutive year. CD sales are dropping, however, they still far outweigh sales from the vintage format with CD album sales at a total of $74.6 million while vinyl albums made $18.1 million.
With digital downloads dropping from $105 million to $77.7 million, the subscription streaming services are clearly taking over.
ARIA SALES DATA FOR AUSTRALIA
* Streaming - up from $135.5m (2016) to $213 million (2017)
* Digital Downloads - down from $105m to $77.7m
* CD albums - down from $87.2m to $74.6m
* Vinyl albums - up from $15.2m to $18.1m
* Other digital formats - up from $3.6m to $3.9m
Australian Associated Press