Streaming & Vinyl Up In 2018; CD & Download Sales Down According To RIAA Report
If you've been keeping up with the trends of the music business' sources of revenue over the past few years, then these numbers really shouldn't be a huge surprise. According to a new report from the Recording Industry Association Of America (RIAA), digital downloads fell 25% from their 2017 numbers and currently only account for 11% of the music industry's business. CD sales also fell 34% and have clocked in at $698 million.
Unsurprisingly, vinyl went up another 8% in sales and accounts for $419 million. Streaming services also saw a massive jump in 2018, going from 35.3 million paid subscriptions in 2017 to 50.2 million. Overall, the retail music industry rose from $8.8 billion in revenue in 2017 to $9.8 million in 2018.
You can read the full report here.
[via The PRP]