Michelle HammondFollow on twitter www.startupsmart.com.au
CDs still hold a place in consumers’ hearts
CDs, DVDs and vinyl albums continue to account for more than half of all wholesale music sales in Australia, according to new figures from the Australian Recording Industry Association.
ARIA wholesale figures, which mirror the total value of retail and digital music sales, reveal physical copies sold last year fell 6.42% on a year earlier to 53.7% of the market.
Music sales overall were up 4% to $398.1 million, with digital products accounting for 46.3% of the market.
While physical copies aren’t as popular as they once were, it seems they still hold a special place in consumers’ hearts.
Perhaps there’s an opportunity to put a new spin on the music category, or tap into the growth of digital products.