Down, and Under Pressure: The Decline of the New Music Economy in Australia 2000–2024

The introduction of streaming technology as a means of recorded music distribution created paradigm shifts in the consumption and remuneration of recorded music. Moving from an ownership to an access economy, the flow of recorded music revenue is now predominantly determined by consumer listening habits rather than purchase decisions. It is documented that the rise of streaming correlates with the return to growth of the recorded music industry. Less has been written about the distinction in value between catalogue and new release recordings in the streaming economy. This article quantitatively analyses the Australian Recording Industry Association (ARIA) annual net wholesale revenues 2000–2024 and the Australian annual top 100 single and album charts 2000–2024 to determine the impact of streaming on new music revenues in Australia. Qualitative context is added by way of interviews with artists and creative managers (Hesmondhalgh, 2019, p. 93)¹ in the Australian market. The data reveals that new music revenues and chart share have declined significantly during the period. The findings raise investment, streaming remuneration and cultural issues for artists releasing new recordings in the Australian music economy.