It’s a strange time for music industry bodies to be announcing their figures for 2019. Pretty much across the board the numbers are very good, but thanks to the Covid-19 pandemic, the prospects for 2020 are much shakier, and that’s colouring the tone of the announcements.
Australian body ARIA is the latest example. Its wholesale recorded music figures for 2019 are good: up 5.5% year-on-year to AU$555m (around $351.5m) in the fifth consecutive year of growth. Streaming grew by 18% year-on-year and now accounts for more than 80% of the overall market, while downloads fell by 34% and physical sales by 21%.
ARIA noted that these are the best results for the Australian industry since 2004, but CEO Dan Rosen warned that “2020 will be a year like no other due to the impact of Covid-19”.
For more on the Australian market, read our country profile from September 2019. One finding that stands out: 2019 actually saw a deceleration in the growth of the Australian recorded music market: the 5.5% rise followed 12.3% growth in 2018.