For the first time in 15 years, the music industry in New Zealand in 2015 has streamed its way into growth.
Streaming revenues have become the number one source of revenue for record companies and recording artists in New Zealand.
"We're the canary in the coalmine, right at the forefront front of digital transformation," Recorded Music NZ CEO Damian Vaughan told the Paul Henry programme this morning.
"The last 15 years we've gone from transition to transition -- 15 years ago it was all about physical music, CDs… and now streaming has almost replaced downloads.
"Piracy is still a massive issue… but consuming music has gotten easier, the idea of streaming music a better proposition than going through the process of downloading."
Mr Vaughan said copyright laws still need to be strengthened.
"If we are to maintain and encourage this new momentum we must ensure New Zealand law is world-class and ensures a level playing field for artists and recording companies."
However, another revenue increase worldwide has been the sale of vinyl. While a relatively small contributor to the overall numbers, vinyl sales have increased to $1.7m of revenue, representing 9 percent of all physical sales.
The NZ music industry, by the numbers:
Newshub.
