No, streaming isn’t saving the music industry, at least not in the biggest countries that matter the most. According to data just released, Australia’s overall music sales dropped in 2013, a trend we also saw in the United States, Canada, and the U.K.
According to the Australian Recording Industry Association (ARIA), total revenue for recorded music was at $352 million in 2013. In 2012, the total revenue was $398 million.
This is a drop of 11.6 percent, effectively canceling out the 4 percent revenue gain the Australian music industry saw in 2012.
Digital download revenue rose 0.5 percent, and digital album sales rose 8 percent. Streaming revenue almost doubled, and it now accounts for 5.9 percent of the industry.
Overall, revenue from digital music now accounts for 54.7 percent of the entire industry. Yet all of that failed to compensate for a 25 percent drop in physical sales.
The ever-growing vinyl craze saw a 77 percent rise in vinyl sales, an exciting surge that still remains a fringe phenomenon.