Aussie Indie Record Sector grew by $33m over the last four years
Despite the countless setbacks the Australian Independent Recording sector has faced over the last 5 years, new research reveals that business is booming.
Australian Independent Record Labels Association (AIR) has today unwielded the results of their 2018-2019 AIR Share survey.
Last conducted in 2016, the updated report showed that sector generated revenue exploded from $151 million in 2014/15 to $183 million in 2018/19.
The report attributes this 18 per cent increase largely to the massive influx of music streaming over the last few years.
In 2015, digital downloads were king accounting for 52 per cent of revenue. Today that share has dropped drastically to just 20 per cent.
Streaming, on the other hand, pulled in 80 per cent of indie label revenue in 2018/19.
Drawing data from ARIA, Phonographic Performance Company of Australia (PPCA) and a bespoke survey of indie labels concluded that indie label output makes up 31 per cent of the Australian music landscape.
Which represents a one percent growth from the results seen in 2014/15.
It’s not just locals that love Aussie indie music.
In 2018/19, Australian artists signed to indie labels brought in $61 million in revenue – mostly from live performances.
That’s almost triple the $25 million earned in 2014/15.
Read the full AIR Share report here.
ABC Music is proud to be one of Australia’s largest independent record labels, head here to check out our latest releases.
ABC Classic are delighted to announce that Joseph Tawadros’ new album, Live at the Sydney Opera House, is the #1 album on the ARIA Core Classical Chart for the week beginning June 29, 2020.
Aussie Indie Record Sector grew by $33m over the last four years
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