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Australian record industry reports revenue slide for 2013

By | Published on Friday 28 February 2014


Having the record industries in various European countries issuing upbeat end of year financial statements reporting increased revenues in 2013 has become a little trying, don’t you think? So good news, the Australian record industry saw income fall 11.6% last year. Yeah, obviously that’s not really good news.

CD sales continue to slump in the Australian market, down about a quarter year-on-year, and digital growth wasn’t sufficient to compensate for that. But digital is growing, up 4.3% overall, and accounting for nearly 55% of income, and the country’s record industry trade group ARIA remains optimistic that the 2013 figures are a blip (the Aussie industry having seen a 4% increase in revenues in 2012).

Says ARIA CEO Dan Rosen: “The way that music is discovered and enjoyed by fans continues to evolve, and as the industry continues to transform itself, the sales trajectory will not always be a straight line. We have seen in other territories around the world that as streaming services gain momentum, strong market growth has followed”.