I recently went to a briefing at Recorded Music NZ, where they revealed some fascinating music sales figures for the local market. Both streaming and vinyl sales are on the rise.
TV3 report "Vinyl LPs account for about 5 percent of the physical product sold last year.
RMNZ's Damian Vaughan says"I suppose over the past 15 years vinyl survived in the dance and hip hop world," he says. "But now it's more of a collector's item, or a novel piece of art, because they are great looking things. It looks great on the shelf."
Digital music now makes up 60 percent of all music sales, with physical sales accounting for the rest. Streaming ... accounts for 24 percent of all wholesale revenue, up from 9 percent in 2013." In 2012 streaming income was $1.8m (3%), and for 2014 it had risen to $12.7m (24%). Sales for 2014 are down on the previous year.For 2014;
Physical product: $21.4 million in wholesale revenue
Digital downloads: $19.1M
Public performances and broadcast: $13M
More: 'Recorded Music NZ 2014 results: digital revenue on the rise while physical revenue decline continues' at StopPress