Music streaming isn’t skyrocketing just because Spotify and Apple Music are offering more deals to entice users or it’s attracting those who found the downloading process too difficult.

The increased adoption of new tech toys as wireless earbuds and smart speakers are also playing a significant role in the up-take in both Australia and the US.

Come Tomorrow

A new Consumer Technology Association (CTA) mid-year report US Consumer Technology Sales and Forecasts, predicts that music streaming services will generate $8.4 billion in the US alone this year, a 33% spike over 2018 revenue in the world’s largest music market.

ARIA’s upcoming mid-year report will provide a better idea of how much streaming revenue now dominates the A$526 million Australian music market. It was 71.4% in its last report.

One independent forecast expects revenue to grow at an annual rate of 3.2% between 2019 and 2023, and a value of $335.5 million by 2023.

Hourly, Daily

There are no Australian sales figures for wireless earbuds. But the CTA forecast expects a 46% rise to $2 billion, and double-digit growth over the next few years as US consumers pick premium audio experiences featuring true wireless technology.

Australian take-up of smart speakers leaves the Americans far behind. it was 29.3% of the adult population (or 5.7 million) to about 26% in the US by the end of 2018.