In the first six months of 2017, revenue from streaming services for the Australian Recording Industry Association totalled $96.9 million, a 57 per cent increase from the corresponding period in the previous year.
Artists such as Peking Duk, Sia, Tash Sultana, Flume, Bliss N Eso and Dean Lewis were strong performers in the streaming category in the first half.
In total ARIA took in wholesale sales of $184.2 million, up 9.2 per cent compared with the first six months of 2016.
Smartphone penetration, the level of choice at prices of around $12 per month for streaming services, other content, such as video, growing via streaming, has led to rapid uptake and renewed growth for the music sector, which spent many years under stress and looking for growth.
“That shift to access rather than ownership is a trend that’s happening across music, TV, and even cars with Uber,” Mr Rosen said.
That access along with other efforts, such as the Turnbull government’s copyright infringement changes which have allowed for the blocking of pirate websites, have helped educate consumers and point them towards legal means of listening to music.
“It’s been a lot of hard work, a lot of innovation to retool the industry for the digital and global age. It’s fantastic to see the growth is sustainable growth. It was something that was quite elusive.”
Among the other sales categories, physical albums on CD brought in $32.9 million in the six months to June 30, a 12.9 per cent fall from the previous year indicative of part of the money flowing to digital.
Vinyl album sales have continued their comeback, with 12 per cent growth year-on-year to $7.4 million.