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Summary Of The Australian Music Industry

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Comparing the ARIA wholesale figures (2013 – figure 6 and 2014 – figure 7) from 2013 and 2014 shows the subscription services income has increased dramatically. Between 2012-2013 subscription services income increased by 413.81% and between 2013-2014 income increased by 111.26%. This shows how drastically streaming services became popular and that it can be predicted that income from subscriptions to streaming services will continue growing.
The growth of the digital market and the shrinking of the physical market have left the Australian music industry trying to find ways to increase money as digital sales do not make as much money as physical sales. The Australian music industry needs to either increase the popularity of physical copies of music or create ways that digital music can create more music just so that they can keep earning enough money to support artists and get them into both the national music scene and international music scene. …show more content…

In 2013 only Keith Urban made the charts in the U.S, however, he was only in the country charts. In 2014, Sia, 5 Seconds of Summer and Iggy Azalea broke the U.S charts.
Many musicians, most notably, Taylor Swift, have taken their music off streaming services, such as Spotify. Taylor has reported that the reason she has taken her music off is because “It’s my opinion that music should not be free.” This statement made by Taylor is interesting since Spotify made a statement saying that it gives 70% of its revenue to the rights

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Nowadays, record labels and artists cannot persuade listeners to ‘buy’ their music. It is believed that the aspect of music has changed due to the popularity of music streaming. Allen (2013) agreed by stating that music streaming has changed the view of people in the industry of music. For example, popular music streaming services such as Spotify and Pandora and a number of new music streaming applications provide the easiest way for listeners to enjoy music freely without having to do illegal downloading or buying a CD. Likewise, Listeners have the ability to choose the music they want to listen.

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The digital music format began to rise due to the popularity and improvements of technologies like the iPod, iPhone, and other similar digital audio players. This created the new trend of purchasing digital copies of music as opposed to the tangible forms. This technologic advancement was both amazing and awful, as it revolutionized the music industry and made music extremely portable, but also killed physical forms of music. As sales of digital downloads skyrocketed, through venues like iTunes, record stores began closing their doors. Well-known music conglomerates, like Virgin, Tower Records, and Sam Goody’s also felt the blow from digital music and close their doors as well.

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