Get the latest gossip
Australia Falls Out of the Top 10 Global Music Markets for the First Time in Decades
Australia has fallen out of the top 10 global music markets for the first time in nearly three decades
The IFPI’s Global Market Overview offers an optimistic outlook overall, noting that worldwide music revenues increased for the tenth consecutive year, growing 4.8% to a total of $29.6 billion. Recent figures from ARIA indicate six consecutive years of revenue growth in Australia’s recorded music sector, but the nation’s industry leaders may need to explore new strategies to regain their competitive edge. Increased investment in local artists, a greater push for international market penetration, and innovations in streaming and digital distribution could all be key to Australia reclaiming its spot in the global top 10.
Or read this on Billboard