Aussies Spend $100M On Digital Music

According to a recent study, Australian music lovers will spend more than $100 million on music downloads this year and in five years time.

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According to research analysts IBISWorld, the number of digital downloads is set to accelerate over the next few years with record companies far behind the times when it comes to dealing with this change.

Legal music downloads make up about 20 per cent of music sales in Australia, a figure that will increase to 50 per cent of all music sales in the next five years, according to IBISWorld.

The report notes that by comparison, Australians spent just $100,000 on music downloads in 2004.