12 March 2015 - 0 Comments

- Income sources are now more diversified with four income sources: physical product downloads, streaming, public performance and broadcast.

- Streaming continues to experience rapid growth and now represents 24 per cent of all recorded music wholesale revenues by format.

- Digital music now makes up 60 per cent of revenues by format.

- Vinyl album sales up more than 200 per cent on 2013 making up slightly more than $1million of revenue by format.

- Public performance and broadcast experiencing steady gradual growth year on year.

- Physical products and digital downloads remain very important revenue streams contributing $21.4million and $19.1 million respectively in 2014. 

Recorded Music NZ today (12 March) released its wholesale revenue figures for the New Zealand recorded music industry in 2014 and it proved another massive growth year for streaming services.

Public awareness and uptake of streaming services within NZ has grown significantly with streaming as a format claiming 15 per cent more of the overall revenue pie this year.

On the whole, digital music services still remain the number one source of revenue for rights owners accounting for 60 per cent of all music sales by format, leaving physical music products accounting for the remaining 40 per cent of the market.

Despite the increase in streaming revenue, overall income sources for record companies and recording artists are now far more diversified with four distinct income streams.

In 2014 the split was:

- Physical product, generating $21.4 million

- Digital downloads, generating $19.1 million

- Streaming, generating $12.7 million

- Public performance and Broadcast, generating $13 million

Recorded Music NZ CEO Damian Vaughan says the diversification of revenue sources reflects the diversification of audiences and the way they consume music.

“This year more than ever we have seen revenue spread near equally across multiple and very diverse sources,” Vaughan says

“This is a direct result of fans’ ability to purchase and listen to their favourite songs in so many new varied ways – from streaming and downloads to the local record store. That makes it more important than ever for record companies and recording artists to understand who their audience is, where they are and how they are consuming music.

“We really are spoilt for choice when it comes to our options in NZ and our artists have the ability now to reach their fans in a more meaningful and targeted way.”

Further information regarding the legal music and download services available to New Zealanders can be found at http://www.promusic.co.nz/

Overall, in 2014 the NZ Recorded Music industry saw a slight decrease of just 0.8% per cent in annual recorded music revenues.

Recorded Music NZ has previously released its end-of-year NZ Top 40 Charts results for 2014 which are summarised below.

2014 Album and Singles Charts

	2014 Top Selling Singles
	Title	Artist
1	Happy	Pharrell Williams
2	All About That Bass	Megan Trainor
3	All Of Me	John Legend
4	Stay With Me	Sam Smith
5	Shake It Off	Taylor Swift
6	I See Fire	Ed Sheeran
7	Say Something	A Great Big World feat. Christina Aguilera
8	Thinking Out Loud	Ed Sheeran
9	We Are Done	The Madden Brothers
10	Rude	Magic!

 

	2014 Top Selling Albums
	Title	Artist
1	X	Ed Sheeran
2	Sol3 Mio	Sol3 Mio
3	1989	Taylor Swift
4	In The Lonely Hour	Sam Smith
5	Frozen: The Songs	Various
6	Pure Heroine	Lorde
7	Ghost Stories	Coldplay
8	We Rise	Devilskin
9	The Endless River	Pink Floyd
10	PRISM	Katy Perry

 

	2014 Top Selling NZ Singles
	Title	Artist
1	Freaks	Timmy Trumpet and Savage
2	Holding You	Ginny Blackmore and Stan Walker
3	Bridges	Broods
4	Royals	Lorde
5	Yellow Flicker Beat	Lorde
6	Mother & Father	Broods
7	Team	Lorde
8	Make You Mine	Benny Tipene
9	The Wire	David Dallas feat. Ruby Frost
10	Special	Six60

 

	2014 Top Selling NZ Albums
Rank	Title	Artist
1	Sol3 Mio	Sol3 Mio
2	Pure Heroine	Lorde
3	We Rise	Devilskin
4	Evergreen	Broods
5	FVEY	Shihad
6	Broods EP	Broods
7	The Soul Sessions	Whenua Patuwai
8	Words: The Very Best Of	Sharon O’Neill
9	Toulouse	Benny Tipene
10	Science & Survival	I Am Giant

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