As it turns out, Australia has some of the world’s most valuable music fans. Well, some of the most valuable in terms of how much cold hard $$$$ we actually spend on the music we listen to.
In April this year, The International Federation of the Phonographic Industry (IFPI) released the 2015 version of its ‘Recording Industry in Numbers’ report, and now Music Business Worldwide have crunched the numbers to figure out which countries have the most (and least) monetarily valuable music fans.
According to Music Business Worldwide‘s calculations, Australia sits sixth on the list of countries who spent the most money per capita on music in 2014. Norway sits at number one, but Australia is in front of the US, Austria and Switzerland.
Here’s the full top 10 in US dollars:
10 Highest Per Capita Spend On Music In 2014 (Via Music Business Worldwide)
1. Norway: USD$23.58 per person
2. UK: $20.81
3. Japan: $20.64
4. Sweden: $19.75
5. Germany: $17.42
6. Australia: $16.26
7. USA: $15.36
8. Austria: $13.56
9. Switzerland: $13.39
10. France: $12.76
The 10 countries with the lowest per capita spend on music is topped by China, which despite its 1.357 billion-strong population has been named the worst music market in the world, with only USD $105.2 million generated by its music market in 2014.
Here’s the full bottom 10 in US dollars:
10 Lowest Per Capita Spend On Music In 2014 (Via Music Business Worldwide)
1. China: USD$0.07 per person
2. India: $0.08
3. Mexico: $1.07
4. Brazil: $1.23
5. Spain: $3.87
6. Italy: $3.93
7. South Korea: $5.29
8. Canada: $9.74
9. Belgium: $9.93
10. Netherlands: $12.19
In the past, the ‘big three’ music markets have been seen to be the US, Japan and the UK, but according to IFPI’s numbers, Germany has taken over from the UK.
USD$8.9 billion was generated between the US, Japan and Germany last year, with the US contributing a hefty USD$4.9 billion to that total.
So while Australia is far from becoming part of the ‘big three’, its per capita spend on music looks to be in good shape when compared to that of other countries. Recent studies have also confirmed that Australia’s live music scene is making kick-ass contributions to the economy.
So until next year’s results, cheers to you, Australia.