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Music Revenue in Australia up 6.8% in 2012

Monster Music, provider of music lessons from Perth to Brisbane to Melbourne, reveals why this is great news for up and coming musicians across Australia.

Perth, WA, June 27, 2013 - Recently, the International Federation of the Phonographic Industry (IFPI) its Recording Industry in Numbers (RIN) report. The London-based IFPI released the RIN report on the heels of its Digital Music Report. The two reports cover most of the statistics that the IFPI have collected concerning the music industry.

The numbers in both reports are encouraging for the music industry. The music industry had its first growth in revenue since its peak in 1999, when revenues were $38 billion. While the 2012 revenues of $16.5 billion were far below peak revenues, they did represent a growth of 0.3%, reversing a 12-year pattern of declining revenues.

Many factors have contributed to revenue shrinkage since 1999. The launch of Napster, which allowed users to pirate music without paying artists, and a host of similar websites, along with the popularity of the internet, created what many in the industry see as a “perfect storm” for declining revenues. Critics of that stance cite the music industry's failure to fully adapt to the digital age.

In many countries, digital revenues have overtaken revenue from physical sales. In Australia, the numbers are close, with 47% of revenues generated by physical sales, and 45% of revenues generated digitally. Dan Rosen of the Australian Recording Industry Association predicts that digital revenues will overtake physical sales revenues in Australia as early as this year.

Australia is currently number six in world music revenues, with a total of $492 million. This represents a growth of 6.8%, and means that Australians currently spend approximately $22.04 per person on music. This is the second-highest per-capita expenditures on music, with Japan leading at $34.80 per person.

Only one countries out of twenty showed growth for 2012, and Australia's 6.8% was the third-highest rise. India's revenues grew 22.1%, while those in Sweden grew 18.7%.

While digital sales and physical sales are almost even in Australia, most industry insiders feel that digital music is on the cusp of an unprecedented rise in popularity. Apple, Twitter, Google, and Amazon have all recently begun offering digital on-demand streaming service. Most observers believe this is an indication that on-demand streaming is about to see huge increases in revenue.

According to Danny Achurch, proprietor of Monster Music, a consortium of music teachers across Australia, the current trends represent opportunity for both current and up-and-coming Australian musicians: “Music has never been an easy industry in which to make a living, and the last ten years have been very difficult for most. Finally, though, it looks like there will be avenues by which local musicians will be able to make a living.”

Achurch continued, “The numbers don't lie, and anyone who is paying attention can see a couple of obvious trends here: the music industry is finally recovering from the effects of piracy on revenues, and most of the new revenues are going to be digital.”

Achurch added, “Digital music represents a remarkable opportunity for independent DIY promotion. The logistics of putting out a physical record, not to mention the huge financial outlay, are simply too much for many local artists. Now, an artist can record a song and have a digital copy uploaded to iTunes and various streaming services in less than one day.”

Monster Music provides music lessons, piano, violin and guitar lessons in Sydney and other areas in Australia. They offer lessons for voice and all popular musical instruments.

To learn more, call  08 9335 8881 or visit their website: http://www.monstermusic.com.au.