In 2024, a total of 32.9 million physical CDs were shipped in the United States. However, this figure marks a considerable decrease from a decade earlier, when shipments were still above 100 million. More than 900 million CDs were shipped in the United States at the turn of the millenium, but the product has experienced a large decline in popularity in general since. Physical music sales Seen as the successor to vinyl records and cassette tapes, compact discs or CDs were one of the most popular prerecorded music formats for much of the 1990s and early 2000s. Competition, first in the form of digital music formats and then streaming, has led to a massive decline in total album sales, with the CD format being hit particularly hard. For five years now, music streaming revenue accounted for over 80 percent of total industry revenue partially thanks to the ability of these platforms to provide users with instant access to an endless online library of music which can be enjoyed via any device at any time. While most physical album sales have suffered, vinyl albums have experienced a resurgence in recent years. The format’s total sales figures increased significantly in each year since 2010.

This graph depicts the number of independent CD and record stores in the United States from 2003 to 2013. In 2003, there were ***** independent record stores in the U.S.

United States - Producer Price Index by Commodity for Miscellaneous Products: Audio Discs, Full-Length (Including CDs and Vinyl Records) was 104.80000 Index Dec 2010=100 in January of 2019, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity for Miscellaneous Products: Audio Discs, Full-Length (Including CDs and Vinyl Records) reached a record high of 106.40000 in March of 2014 and a record low of 99.20000 in July of 2011. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity for Miscellaneous Products: Audio Discs, Full-Length (Including CDs and Vinyl Records) - last updated from the United States Federal Reserve on July of 2025.

In 2023, a total of 37 million physical CDs were shipped in the United States. However, this figure marks a slight decrease from 37.7 million in the previous year. More than 900 million CDs were shipped in the United States in 2000, but the product has experienced a large decline in popularity in general since. Physical music sales Seen as the successor to vinyl records and cassette tapes, compact discs or CDs were one of the most popular prerecorded music formats for much of the 1990s and early 2000s. Competition, first in the form of digital music formats and then streaming, has led to a massive decline in total album sales, with the CD format being hit particularly hard. As of 2022, only 25 percent of people stated that they had used physical music such as CDs within the past year. In 2021, music streaming revenue accounted for around 83 percent of total industry revenue partially thanks to the ability of these platforms to provide users with instant access to an endless online library of music which can be enjoyed via any device at any time. While most physical album sales have suffered, vinyl albums have experienced a resurgence in recent years. The format’s total sales figures increased significantly in each year since 2010.

Denmark Retail Trade Index: Records, CDs Cassettes data was reported at 253.000 2000=100 in Dec 2008. This records an increase from the previous number of 126.000 2000=100 for Nov 2008. Denmark Retail Trade Index: Records, CDs Cassettes data is updated monthly, averaging 100.000 2000=100 from Jan 2000 (Median) to Dec 2008, with 108 observations. The data reached an all-time high of 282.000 2000=100 in Dec 2007 and a record low of 74.000 2000=100 in Aug 2004. Denmark Retail Trade Index: Records, CDs Cassettes data remains active status in CEIC and is reported by Statistics Denmark. The data is categorized under Global Database’s Denmark – Table DK.H007: Retail Trade Index: by Industry: 2000=100.

Over the past five years, the situation in the industry has worsened dramatically. Their sales fell by an average of 13.2% per year. This development resulted primarily from a decline in demand for recorded sound and video media in the retail sector, which in turn was predominantly due to the increasing popularity of streaming services. Younger consumers increasingly tend to consume audio content and videos online rather than purchasing physical media at retail stores. In addition, online sales of physical audio and video carriers have also cost stationary retailers sales over the past five years. This trend, which was fueled by the negative effects of the coronavirus pandemic, is likely to continue in the current year. Sales are therefore expected to decline by 13.8% to €50.2 million.The increasing shift of business with music, movies and series to the online sector will continue to have a negative impact on stationary retail with sound and video recordings in 2023. One indicator of the increasing relevance of streaming is the rising level of digitization. The great importance of online trade in sound and image carriers as a competitor to stationary retail is underscored by the growing sales of online trading platforms. In particular, the consumer shift to streaming accelerated since the onset of the 2020 coronavirus pandemic due to limited recreational opportunities and temporarily closed retail stores.The declining trend in the industry is expected to continue in the period up to 2028. The rate at which consumers are switching to streaming services increased dramatically since 2020. In the coming years, the market coverage of streaming providers can therefore be expected to expand further. Stationary retailing of audio and video media is thus likely to be a niche market only in the future, with collector's items such as records. Accordingly, sales are expected to decline by an average of 8.1% per year to €32.9 million by 2028.

Compact Disc (CD) Market Outlook

The global Compact Disc (CD) market size was valued at approximately USD 1.5 billion in 2023, and it is projected to reach around USD 2.1 billion by 2032, growing at a CAGR of about 3.8% during the forecast period from 2024 to 2032. The sustained demand for CDs in certain niche markets and the collectible nature of older music formats are key growth factors driving the market. Despite the digital revolution, which has largely overshadowed physical formats, the CD market continues to find relevance in specific segments where digital cannot substitute the physical experience or where digital penetration is still developing. This enduring demand is supported by the resurgence in consumer interest in physical music formats, which are perceived as more authentic and provide a higher quality of sound compared to some digital formats.

One of the significant growth factors contributing to the CD market's resilience is the enduring popularity of physical music collections. Collectors and audiophiles often prefer CDs due to their superior sound quality and tangible nature, offering a sense of ownership not replicated by digital files. Furthermore, artists and record labels continue to produce CDs to meet this demand, often including exclusive content such as additional tracks or unique artworks, enhancing the collectible value. This niche yet steadfast consumer base ensures that CDs remain a viable product within the music industry. Additionally, the drive towards sustainability and nostalgia has fueled interest in physical formats, as consumers seek a break from fleeting digital streams.

Another growth factor is the educational sector's reliance on CDs for instructional and curriculum purposes. Despite advancements in digital solutions, many educational institutions in developing regions continue to utilize CDs for distribution of materials due to their cost-effectiveness and widespread compatibility with existing hardware. CDs provide a reliable means of content delivery, especially in areas with limited internet access or where digital literacy is still developing. This is particularly pertinent in regions where the infrastructure does not support high-speed digital content delivery, making CDs an essential tool for education.

The computer software and data storage industry also contribute significantly to the CD market's growth. While cloud solutions dominate the data storage landscape, CDs remain a preferred medium for software distribution, particularly for backup purposes. Businesses often rely on CDs for archiving and securing data against cyber threats, as they provide a physical backup that is not susceptible to remote hacking. Additionally, CDs are used in regions where internet connectivity is not optimal, providing a necessary alternative for software installation and updates. This aspect of the market underscores the continued relevance of CDs despite the push towards online and cloud-based solutions.

The rise of Digital Music Content has significantly influenced the dynamics of the CD market. As streaming services and digital downloads become more prevalent, they offer consumers unparalleled convenience and access to vast music libraries. However, this digital shift has also sparked a renewed appreciation for physical formats among certain demographics. Many music enthusiasts argue that digital music lacks the tactile and emotional connection that physical media like CDs provide. This sentiment has led to a niche market where digital and physical formats coexist, each catering to different consumer preferences. The interplay between digital and physical music content continues to shape the strategies of artists and record labels, as they strive to meet the diverse needs of their audiences.

Regionally, the CD market sees varied demand, with North America and Europe maintaining steady interest due to a combination of nostalgia and collector markets. In contrast, Asia Pacific shows potential growth due to emerging markets where digital infrastructure is still catching up. Latin America and the Middle East & Africa also present opportunities, primarily driven by the educational and business segments where CDs serve as an affordable and reliable media format. These regions exhibit a slower transition to purely digital formats, ensuring that CDs retain their importance in the media landscape.

Product Type Analysis

The CD market is segmented by product type, primarily into Audio CDs, Data CDs, an

Discography Market Outlook

The global discography market size was valued at approximately USD 25 billion in 2023 and is projected to reach around USD 40 billion by 2032, growing at a CAGR of 5.5% during the forecast period. This substantial growth is driven by the resurgence of vinyl records, the persistent popularity of streaming services, and the increasing adoption of digital downloads, which collectively contribute to the market's expansion.

The revival of vinyl records has played a significant role in the discography market's growth. Vinyl records, once considered a niche market, have experienced a renaissance, driven by audiophiles and collectors who value the tactile and nostalgic experience they offer. This resurgence is further fueled by artists and record labels reissuing classic albums and releasing new music on vinyl formats, catering to a growing demographic that appreciates the unique sound quality and album art associated with vinyl records. Additionally, limited edition releases and Record Store Day events have heightened interest and demand, contributing significantly to market growth.

Streaming services have revolutionized the way music is consumed, providing users with unparalleled access to vast music libraries. The convenience and affordability of streaming platforms like Spotify, Apple Music, and Amazon Music have made them indispensable for music lovers worldwide. The subscription-based model not only offers users access to millions of tracks but also generates a steady revenue stream for artists and record labels. The integration of advanced algorithms and personalized playlists has enhanced user engagement, making streaming services a primary driver of growth in the discography market.

Digital downloads, though experiencing a decline in comparison to streaming, continue to be a vital segment of the discography market. Digital downloads offer a sense of ownership that streaming does not, allowing consumers to build their digital music libraries. Furthermore, digital platforms such as iTunes and Bandcamp provide independent artists with a direct channel to sell their music, fostering a more inclusive and diverse musical landscape. This accessibility has empowered many emerging artists to reach global audiences without the need for traditional record label backing.

Regionally, North America holds a significant share of the discography market, driven by a robust infrastructure for streaming services and a deeply ingrained music culture. Europe follows closely, with a strong market for both vinyl records and streaming. Asia Pacific is emerging as a lucrative region for market growth, propelled by increasing internet penetration and rising disposable incomes, which are expanding the consumer base for digital and streaming music. Latin America and the Middle East & Africa, while smaller in market size, show promising potential due to the growing popularity of streaming services and the increasing availability of digital music platforms.

Product Type Analysis

The product type segment of the discography market encompasses vinyl records, CDs, digital downloads, and streaming services. Each of these product types has unique attributes that cater to different segments of the music consumer market. Vinyl records have made a notable comeback in recent years, driven by their nostalgic appeal and superior sound quality. Collectors and audiophiles, particularly in North America and Europe, are driving demand for vinyl records, which have become a significant revenue stream for artists and record labels. Limited edition releases and vinyl-exclusive content are also boosting sales.

CDs, although experiencing a decline in popularity due to the rise of digital formats, continue to maintain a presence in the market. CDs offer a tangible form of music ownership that is still preferred by certain demographics, particularly in regions where digital infrastructure may not be as robust. Special edition CDs, featuring bonus tracks or exclusive artwork, continue to attract collectors and loyal fans. While the overall market share for CDs is shrinking, they remain a relevant product type, especially for older consumers and in regions with limited internet access.

Digital downloads offer a convenient and immediate way for consumers to purchase and own music. Platforms such as iTunes and Bandcamp have made it easy for users to buy individual tracks or full albums with just a few clicks. Although streaming services have overshadowed digital downloads in recent years, the latter still holds significant value, particul

Music Records Market Outlook

The global music records market size was valued at approximately USD 29.5 billion in 2023 and is projected to reach USD 42.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.2% during the forecast period. The growth of this market is driven by the revival of vinyl records, the continuous growth of streaming services, and the resurgence of consumer interest in owning physical music formats. Factors such as nostalgia, the superior sound quality of analog formats, and the growing number of collectors have all contributed to the renaissance of physical music formats, which is complementing the robust growth of digital streaming platforms.

One of the key growth factors contributing to the expansion of the music records market is the resurgence of vinyl records. Vinyl has made a remarkable comeback, with sales experiencing double-digit growth year over year. This revival is driven partly by nostalgia and the tangible, collectible nature of vinyl, which appeals to both older generations who grew up with it and younger consumers who consider it a vintage novelty. Record stores have become cultural hubs in many areas, sparking community engagement and events that further drive sales. Additionally, artists and music labels are increasingly releasing limited-edition vinyl, making it a lucrative segment within the industry.

Digital streaming services continue to be a formidable force shaping the music records market. While digital downloads have seen a decline, streaming services have surged in popularity, offering vast libraries of music at the fingertips of consumers. The convenience and accessibility of streaming platforms such as Spotify, Apple Music, and Amazon Music have transformed music consumption habits, attracting millions of new users globally. The transition from ownership to access has been significant, with streaming now accounting for the largest revenue share in the music industry. This shift is further propelled by improvements in mobile internet infrastructure and the proliferation of smart devices, enabling users to stream music anytime, anywhere.

Another contributor to market growth is the diversification of revenue streams through innovative distribution channels and partnerships. Artists and record labels are exploring direct-to-consumer sales models, utilizing social media and other online platforms to reach audiences directly. This approach not only enhances engagement but also improves profit margins by reducing reliance on traditional distribution networks. Additionally, collaborations between artists and brands for exclusive releases and merchandise tie-ins are creating new avenues for revenue. These strategies are vital in a market that's increasingly competitive and driven by consumer engagement and loyalty.

In terms of regional outlook, the music records market is experiencing varied growth patterns across different geographies. North America remains a dominant force, thanks to the large consumer base and high adoption of streaming services. Europe also shows strong growth, with a significant share contributed by the vinyl resurgence. The Asia Pacific region is emerging as a high-growth market, driven by increasing internet penetration and smartphone adoption, facilitating access to streaming services. Latin America and the Middle East & Africa are witnessing gradual growth, albeit at a slower pace, as infrastructure and access continue to improve. Each region presents unique opportunities and challenges that are shaping the dynamics of the global music records market.

Format Type Analysis

The format type segment of the music records market includes vinyl records, CDs, digital downloads, and streaming as primary categories. Each format has its distinct audience and contributes uniquely to the market dynamics. Vinyl records, as previously mentioned, have seen a revival with rising sales due to their nostalgic value and superior sound quality. Collectors and audiophiles are drawn to vinyl’s tangible and aesthetic appeal, making it a significant growth driver. This segment has also been fueled by artists releasing special editions and offering exclusive content on vinyl, which enhances consumer engagement and drives sales. The growth of vinyl may be seen as counterintuitive in the digital age, yet it underscores the continued demand for physical music formats.

Compact Discs (CDs), once the dominant music format, have experienced a decline in sales as digital formats and streaming services have taken precedence. However, CDs still hold a place in the market, particularly among certain demo

Online streaming services such as Netflix, Amazon Prime Video and Spotify are driving a transition in the home entertainment market; consumers are increasingly shifting away from physical discs like CDs and DVDs to digital formats, hitting music and video record retailers’ sales. Streaming services’ subscription model offers customers access to an extensive content library at a low cost, making DVD purchases less appealing, especially as people often only watch things once. The International Federation of the Phonographic Industry notes that Sweden, the UK and Germany lead the way in paid audio subscriptions, posing a significant challenge to audio record retailers. As competition heightens, many retailers are shutting up shop. However, some companies are staying strong. For example, large German retailers like Ceconomy AG and Expert SE offer a diverse range of products, including electric data processing equipment and consumer electronics, helping them secure steadier sales and maintain profitability. Nonetheless, music and video record retailing revenue is forecast to plunge at a compound annual rate of 5.1% over the five years through 2024 to €6.6 billion, including an estimated drop of 6.7% in 2024. Revenue is slated to sink at a compound annual rate of 0.3% over the five years through 2029 to €6.5 billion, while the average industry profit margin is also expected to edge downwards. The physical video recording market will continue to face challenge due to the fast availability of films on streaming services post-theatre. The delay in releasing DVDs and Blu-rays, especially in markets like France, drives consumers towards these immediate-access platforms, reducing demand for physical media. Major retailers are expected to withstand market decline by diversifying their products and embracing e-commerce. However, smaller shops risk losing business in this shifting landscape. As on-demand streaming gains more traction among more age groups, including older consumers, more people with move away from physical copies, cutting retailers’ customer base.

This data set contains the Magellan C-BIDR (Compressed Resolution Basic Image Data Record) archive products. It also contains documentation files which describe the C-BIDRs. Each C-BIDR data directory contains the compressed image swaths obtained from one orbit and the ancillary files necessary to understand the data. The C-BIDR products archived on this volume are the exact products released by the Magellan Project, with additional PDS labels, swath index files, and documentation added for the convenience of the user.

The global CD recorder market, while experiencing a decline in recent years due to the rise of digital music and streaming services, maintains a niche presence driven by specific professional and archiving needs. The market size in 2025 is estimated at $150 million, reflecting a steady contraction from its peak. A Compound Annual Growth Rate (CAGR) of -2% is projected for the forecast period (2025-2033), indicating continued shrinkage but not a complete market collapse. Key drivers include the persistent demand for high-quality audio archiving in professional studios, broadcast facilities, and libraries, where CD-quality audio remains a standard for preservation. Furthermore, some audiophiles continue to value the tangible and purportedly superior sound quality of CDs compared to compressed digital formats. However, restraints include the diminishing production of CD players and the increasing affordability and accessibility of digital recording solutions, presenting a significant challenge to market growth. Market segmentation includes professional-grade recorders used in studios and broadcast settings, and consumer-grade models aimed at hobbyists and archivists. Major players like Denon, Tascam, and Yamaha, leveraging their expertise in audio technology, remain competitive within this niche. Geographic distribution likely shows stronger presence in regions with established professional audio industries. The historical period (2019-2024) likely saw a more significant decline than the projected future contraction due to the rapid shift to digital in the earlier part of the period. The future of the CD recorder market depends on adapting to technological advancements while catering to existing demand. Companies are likely focusing on enhancing the functionality of their recorders, integrating features such as digital audio workstation (DAW) compatibility and high-resolution audio capabilities to retain relevance. This strategic approach allows for integration into modern workflows, bridging the gap between legacy formats and contemporary practices. Furthermore, marketing efforts will likely emphasize the enduring quality and reliability of CD technology for long-term archiving and professional use. While market shrinkage is inevitable, the niche market for professional-grade and high-fidelity CD recording will likely persist for the foreseeable future, driven by specific demands for data permanence and audio fidelity.

Graph and download economic data for Producer Price Index by Commodity for Miscellaneous Products: Audio Discs, Full-Length (Including CDs and Vinyl Records) (WPU159C01011) from Dec 2010 to Jan 2019 about recording, miscellaneous, commodities, PPI, inflation, price index, indexes, price, and USA.

Pre Recorded Disc Market Outlook

The global pre-recorded disc market size was valued at approximately USD 10.5 billion in 2023 and is projected to reach around USD 17.2 billion by 2032, growing at a CAGR of 5.5% during the forecast period. The primary growth factor driving this market is the continued demand for physical media in various entertainment segments, including movies and music.

The resilience of physical media formats like CDs, DVDs, and Blu-ray discs in the face of increasing digitalization is quite remarkable. Despite the growing preference for digital downloads and streaming services, certain segments of the population continue to favor physical formats due to their tangibility, collectability, and superior audio-visual quality. Moreover, regions with limited internet access also rely heavily on pre-recorded discs for their media consumption. This has helped maintain a steady demand for pre-recorded discs, contributing to market growth.

Another significant growth factor is the niche market of collectors and enthusiasts who value the physical ownership of media. Special editions, limited releases, and high-quality physical formats like Blu-ray are particularly popular among this demographic. Collectors often seek out these items for their unique packaging, additional content, and the nostalgic experience they provide. This segment has proven to be a reliable revenue stream for the pre-recorded disc market, with companies often targeting these consumers with exclusive releases and premium products.

The resurgence of vinyl records and the analogous trend in pre-recorded discs also act as a growth catalyst. Many consumers, particularly in the music segment, appreciate the analog quality and the physical ownership of media. This retro trend is further fueled by artists and producers who release their works on physical formats to provide fans with a holistic and tangible experience. This cultural shift has also seen an increase in the sales of hardware capable of playing these formats, which indirectly boosts the pre-recorded disc market.

In the realm of biotechnology and pharmaceuticals, CD CHO Media has emerged as a critical component for the production of therapeutic proteins and monoclonal antibodies. This chemically defined media is specifically designed to support the growth and productivity of Chinese Hamster Ovary (CHO) cells, which are widely used in the biomanufacturing industry. The use of CD CHO Media ensures consistency and reproducibility in cell culture processes, which is essential for the production of high-quality biologics. As the demand for biologics continues to rise, the role of CD CHO Media in optimizing cell culture conditions and enhancing protein yield becomes increasingly significant. This advancement not only supports the pharmaceutical industry's efforts to meet global healthcare needs but also aligns with the broader trend towards precision medicine and personalized therapies.

Regionally, North America and Europe have shown a steady demand for pre-recorded discs, driven by a strong base of collectors and a preference for high-quality audio-visual experiences. Meanwhile, the Asia Pacific region, particularly countries like Japan and South Korea, has shown robust market growth due to the high consumption of physical media. The regional market dynamics are influenced by cultural preferences and the availability of high-speed internet, which varies significantly across different areas.

Type Analysis

The pre-recorded disc market is segmented into various types, including CDs, DVDs, Blu-ray discs, and others. CDs, despite being one of the oldest formats, continue to hold a significant share of the market due to their affordability and widespread availability. They are predominantly used for music and software applications. The resilience of CDs can be attributed to their low cost, ease of use, and compatibility with a wide range of playback devices, making them a preferred choice for many users.

DVDs have been a staple in the home entertainment industry for years and are primarily used for movie and gaming applications. Their higher storage capacity compared to CDs allows for better quality content and additional features such as director's commentary, behind-the-scenes footage, and interactive menus. The widespread use of DVDs in educational materials, training programs, and archival storage also contributes to their sustained demand in the market.

United States - Rest of the World; Time and Savings Deposits, Excluding Negotiable CDs; Asset, Transactions was 184656.00000 Mil. of $ in January of 2025, according to the United States Federal Reserve. Historically, United States - Rest of the World; Time and Savings Deposits, Excluding Negotiable CDs; Asset, Transactions reached a record high of 436768.00000 in January of 2020 and a record low of -187180.00000 in April of 2022. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Rest of the World; Time and Savings Deposits, Excluding Negotiable CDs; Asset, Transactions - last updated from the United States Federal Reserve on June of 2025.

The statistic shows annual music CD album sales in the United States from 2011 to 2016. In 2011, *** million music compact discs were sold in the U.S. In 2016, the figure fell to ***** million.

Database (anonymous FTP) resulting from a collaborative effort to identify a core set of human and mouse protein coding regions that are consistently annotated and of high quality. The long term goal is to support convergence towards a standard set of gene annotations. Collaborators are EBI, NCBI, UCSC, WTSI and the initial results are also available from the participants'''' genome browser Web sites. In addition, CCDS identifiers are indicated on the relevant NCBI RefSeq and Entrez Gene records and in Map Viewer displays of RNA (RefSeq) and Gene annotations on the reference assembly.

The continued dominance of online streaming services like Spotify and Netflix has diminished revenue for the Reproduction of Recorded Media industry in Australia. CD and DVD duplication and replication services have retreated, now catering to a low volume of clients in the music industry, as well as small business, training and education customers. While CDs, DVDs and Blu-Ray Discs still take up space in media retailer shops like JB Hi-Fi, consumer preferences have generally trended away from physical media. Even for computer software and games, CDs and DVDs have been rendered unnecessary by cloud platforms. This steady decline is reflected in industry revenue, which is expected to have fallen at an annualised 5.1% over the five years through 2024-25 to $340.1 million. This includes an anticipated 7.5% drop in revenue in 2024-25. Dwindling demand for CDs and DVDs can be largely explained by their obsolescence. The costs of purchasing a CD/DVD player, as well as buying individual CDs and DVDs, are immensely higher than those for monthly-billed streaming services. While technological obsolescence is obvious for downstream consumers, it’s also apparent for intermediate users, like budding musicians or film directors who wish to distribute their creative output. Again, the mass availability and inexpensiveness of online platforms to distribute content make CDs and DVDs a less useful storage medium. Adding to the woes of obsolescence is the relative ease of importing CDs and DVDs from countries with a competitive advantage in manufacturing, like China. The convergence of these two forces has contributed to foreclosures of CD, DVD and Blu-Ray manufacturing plants in Australia over the past five years. Vinyl record manufacturing has shown resilience as the rest of the industry has been declining. In the late 2010s and early 2020s, a new-found interest in the tactile and collectible nature of vinyl records and nostalgic trends in the music industry drove a revival for vinyl records. But there are no strong signs of a CD revival in Australia, and while there are indeterminate clues to a DVD revival, barriers to entry, like copyright legislation and regional licensing agreements for DVDs, prevent a full-scale revival from taking hold. Nonetheless, buoyant vinyl demand will soften the industry’s rate of decline, with revenue forecast to drop at an annualised 1.6% over the five years through 2029-30 to $314.2 million.