Online streaming in tune with New Zealand music boom: ministers

The digital economy is driving a boom in the New Zealand music industry, government ministers said Wednesday.

An industry-commissioned report from PricewaterhouseCoopers had found music made a direct contribution to the New Zealand economy of 245 million NZ dollars (180.71 million U.S. dollars) last year, up from 213 million NZ dollars (157.11 million U.S. dollars) in 2014, said Broadcasting Minister Amy Adams and Arts, Culture and Heritage Minister Maggie Barry.

"It's incredibly encouraging to see such a positive year for the New Zealand music industry, with four out of five market segments recording increased growth rates," Adams said in a statement.

"In 2015, the industry directly employed 2,259 full-time equivalent roles. This is up from 1,754 in 2014."

The report noted that total retail revenue grew through the doubling of consumption via online streaming, another example of digital convergence seen across the media sector.

Barry said the contribution of music to gross domestic product and employment had shown a significant increase between 2014 and 2015.

"We know from the report that there has been a positive impact on the economy over the past three years," said Barry.

"We are committed to ensuring that support for the industry continues." Endit