ARIA has today released the all-important sales figures for the Australian recorded music industry in the 2014 calendar year. And they make for interesting reading.
The rise of the streaming services certainly can’t be denied; nor can their impact on digital sales outlets.
According to today’s data, subscription service income more than doubled from $10.9 million in 2013 to more than $23 million in 2014.
Digital singles sales dropped by almost ten million dollars; $94.9 million to $85.2 million. Sales of digital albums dipped slightly (by 0.38%), while ringtones suffered a 25% fall from $2.1 million to $1.6 million.
Total digital revenue for the year was down 2.36% on 2013’s figures; $187.7 million from $192.3 million the previous year.
Things are looking a little sad on the physical side of things, with a slump of 18.38% overall on the 2013.
Surprisingly, sales of physical singles are up by 29.65%, but only to $632,187.
Sales of vinyl also bucked the downward trend, increasing by a mammoth 127% from $2.8 million in 2013 to $6.4 million last year.
Music videos suffered the worst of the falls; $14.3 million in 2013 to $7.6 million in 2014; representing a drop of some 46.98%.
And the traditional CD album was down 18.63% to $115.3 million for the year.
All up, our market contracted by 9.62% in dollar terms, down by almost $34 million to $317.8 million dollars.
Discover more about the 2014 sales figures at ARIA’s OFFICIAL WEBSITE.