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]
