Australians spent a record $676 million on music in 2023, with the industry growing 11 per cent on the previous year.
The data is calculated by counting the number of streams, downloads and physical media sales of music. "But overall, I think it just shows that there is a lot of value in music and people are recognising that."The 2023 Deloitte Media & Entertainment Consumer report tells a similar story, with 12 per cent of people who had a paid music subscription deciding to cancel last year.
"At a time when artists are kind of reaching their fans in so many different ways, vinyl's, as demonstrated by these figures, still a really important way for artists to connect and perform a deeper engagement with their fans," Ms Herd said."What makes people buy something on vinyl is that they feel such a strong connection to that artist," Blake Budak, owner of Landspeed Records in Canberra, said.