The Numbers Behind a Billion-Dollar Industry

Australia’s music industry has never been bigger on paper. The second edition of The Bass Line, published by Music Australia in May 2026, revealed that the sector generated a staggering $10.76 billion in revenue during the 2024–25 financial year, contributing $4.28 billion in direct gross value added to the national economy and delivering $1.08 billion in music export revenue. These figures paint a picture of an industry firing on all cylinders. Yet beneath the headline numbers lies a troubling paradox: while the economic pie has expanded, the artists themselves are barely getting a slice.

Local Content Drops to a Critical Low

Perhaps the most alarming data point comes from APRA AMCOS, which reported that Australians are streaming homegrown music 31 per cent less than they were five years ago. Local content now makes up just 9.5 per cent of all streams in Australia. APRA AMCOS CEO Dean Ormston has pointed the finger squarely at algorithmic bias, arguing that Australian artists are “competing against all the other English-speaking territories and the algorithms are driven on language”.

What makes this situation particularly ironic is that Australian music is thriving abroad. Spotify’s 2026 Global Impact List showed that global streams of Australian artists have surged by 69 per cent since 2020, with Sia becoming the first artist to top the list twice. The problem is not the quality of Australian music but its discoverability at home.

Income Inequality Within the Industry

While industry revenue climbs, artist income sits virtually flat at approximately $877 million. Venue closures, rising production costs, and audiences prioritising international touring acts have combined to squeeze local performers at every level. The pattern is clear: money flows into the ecosystem but rarely reaches the creators who fuel it.

A Potential Policy Turning Point

The federal government’s decision to introduce local content quotas for video streaming platforms has ignited debate about whether similar measures should apply to music streaming services. While Spotify has expanded its editorial team in Australia, curating over 120 local playlists, critics argue that without structural intervention, the decline in local streaming will continue unabated.

This streaming paradox represents the defining challenge of Australia’s modern music industry — an export powerhouse that cannot seem to capture its own domestic audience.