Australia’s ‘Music Industry Is Now Bigger Than It Has Ever Been’: Spotify’s Ben Watts Explores ‘Loud & Clear’ Report

The devil, our parents used to warn us, is in the detail.

When the IFPI presented its annual Global Music Report in March, Beelzebub wasn’t exactly showing his face.

As the recorded music industry presented global growth, fueled by streaming, vinyl, and, to a lesser extent, the unexpected comeback of CDs, the 2024 data was a jolly-good read for music professionals, with a surprise on closer inspection.

Australia is no longer a top 10 market, the IFPI reported, bumped by Mexico.

For the first time since the Federation began publishing the results of its annual physical in 2004, Australia was outside the top tier – this despite posting healthy growth for the year, up 6.1% to $717 million.

Mexico’s population of about 130 million, roughly five times that of Australia, is simply too big. And as app-based streaming products transform the industries of emerging markets everywhere, Australia will likely lose its footing in the world rankings.

The land Down Under, however, hasn’t lost its place among the giants on Spotify, the world’s leading streaming music brand.

In data published this week for the streamer’s Loud & Clear report, Australia remains a top 10 exporter on its platform, which is available in 184 countries and boasts over 678 million monthly active users, including 268 million “paid” subscribers.

Australian artists generated more than $300 million in royalties on Spotify in 2024, up 14% from the previous year.

More than 80% of those royalties were from listeners outside of Australia, according to the document, placing Australia in the top 10 exporters of music worldwide.

Golden oldies aren’t the only source of action. CYRIL, FISHER, The Kid LAROI and Royel Otis are among the Class of 2024, piping-hot Australian acts crashing borders on Spotify.

The Music Network caught up with Ben Watts, Spotify’s AUNZ Head of Music, for a walk through the numbers.

Are you able to share some insights into what Australian music is performing well, and where? Are there any hotspots and hot acts? 

Definitely! Although CYRIL’s top market is at home in Australia, he’s also seeing huge success abroad in Germany, US, France, Netherlands, Mexico. FISHER is also another highly streamed artist, topping streams in the USA, UK, Mexico, Germany, Brazil.

The Kid LAROI’s top markets include USA, India, UK, Brazil and Germany, and Royel Otis has huge hotspots in similar places including USA, UK, Germany, France and Canada.

Are new Australian acts enjoying breakthroughs, or is it just catalogue?

New acts are definitely breaking through. Both CYRIL and Lithe each had a breakout in 2024, coming out at the very top of our Global Impact List last year.

Australia ranking among the top 10 exporters of music worldwide is surprising, considering the growing impact of Asia Pop/K-Pop, Latin and Afrobeats. Is Australia typically in the top 10 exporters of content?

The Australian music industry is now bigger than it has ever been, due to Spotify’s ability to uplift Australian artists on a global stage and empower listeners to discover more music than ever before.

The figures show that a borderless music industry has created new paths to career growth and success for local artists who can create fanbases all over the world, all at once.

Much has been said about the slow death of Aussie acts in the national charts. How does our music community get seen and heard above the 100 million-plus songs on Spotify?

The competition for people’s ears is no doubt hotter than ever in a globalised music economy. But the opportunities for Australian artists to break through and succeed on their own terms are infinitely greater and more diverse than ever before.

While charts have traditionally served as a barometer of success, the methodologies behind them involve complex calculations and weightings that I’m not best placed to speak to.

What I can say with confidence is that Spotify has proudly championed Australian artists for over 13 years.

We do this through a wide range of initiatives, most recently with the launch of Turn Up Aus – a new business-wide program which launched with a new visual identity showcased across Spotify’s most high-impact assets, including out-of-home (OOH), social content, and programming, including a brand new editorial hub – a multi-shelf destination on platform, easily accessible via the search page.

This is just the latest way Spotify is dialling up the visibility of Australian stories.