Australia Music Market Size, Share and Growth Analysis Report: Forecast Trends and Outlook (2024-2032)

The music reflects multi-cultures and a diverse array of genres, and styles. According to the Australian Bureau of Statistics, digital media in Australia has increased from 5.1% in 2019-2020 to 5.3% in 2020-21, indicating substantial Australia music market growth. It indicates the growth of digital activity which eventually increases internet users, highlighting the increasing usage of music streaming platforms.

Australia Music Market Trends

As per the Australia music market report, the emergence of virtual events and streaming platforms due to changing circumstances and evolving consumer preferences allows access to a wide range of music genres and cultural influences. Rising situations lead to virtual events where artists perform live on digital platforms and showcase their different music traditions and styles.

Consumers prefer on-the-go-entertainment options which have led to the Australia music market growth as it is considered convenient, accessible, and affordability. These platforms create interactive experiences and community engagement for their users. New opportunities create brand collaborations and partnerships which lead artists to generate revenue.

Australia Music Market Share

Based on the revenue generation format, the Australia music market share is driven by streaming as it allows users to access a vast library of music.

These are considered on-the-go entertainment options as they provide convenience. These services offer a subscription model that provides unlimited access to music content, and users mainly buy these subscription models as they are value for money rather than individual albums. It allows users to explore a wide range of music content, discover new artists and engage with different genres. These are also environmentally friendly as they eliminate the manufacturing of CDs eventually indicating substantial growth in the Australia music market.

Synchronization revenues are generated using music in films, television shows, commercials, video games and much more. Independent artists monetize through their music by sharing it on alternative channels. This gives rise to collaboration between content creators, filmmakers, advertisers, and music creators.

Other Australia music market key players are Kobalt Music Group Limited, Apple Inc., and Wise Music Australia Pty Ltd, among others.

Australia Music Market Analysis by Region

As per labour market insights, in 2023, the distribution of music professionals employed in New South Wales is 38.1%, with Victoria and Queensland having 26.2% and 17.9% respectively. This reflects the diversity and dynamic nature of the Australia music market. It benefits artists and industry professionals' communities in creativity and diversity.