Tech content trusted by users in North America and around the world
7,251 Reviews & Articles | 52,613 News Posts

Vinyl sales have outpaced streaming revenues, according to the RIAA

Thought music streaming was big business? Spinning vinyls is still super popular
By: Anthony Garreffa | Business, Financial & Legal News | Posted: Oct 4, 2015 5:35 am

When you think about profits in the music industry, you'd think that by now the likes of Spotify and Pandora would be making hundreds of millions of dollars - but in reality, they don't.




According to the Recording Industry Association of America (RIAA), music streaming revenue has increased by 27% year-on-year, while vinyl sales have jumped 52% in the same period of time. In the first half of 2015, vinyl sales made $222 million while streaming revenue hit $163 million. Apple Music isn't included in these results, so the streaming side of things will see an uptick when Apple gets onboard.


According to data analyst Joshua Friedlander: "Overall, the music industry has become the most-digital in terms of all traditional media outlets - magazines, newspapers - in terms of transition. There is more optimism out there than there was. Two-thirds of the market is still physical [CDs]. It used to be monolithic. Now it's a mix of things, a revenue diversification that makes a more stable source to grow off of. [Streaming] services have mostly grown through word of mouth. There hasn't been a big Spotify advertising push. When you get a player like Apple involved, that really generates a whole new level of awareness".


Related Tags

Got an opinion on this news? Post a comment below!
Subscribe to our Newsletter

Latest News Posts

View More News Posts
View Our Latest Videos

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases