Digital downloads have dulled, while streaming has struck a chord with a revenue win.
Spotify and YouTube are unsurprisingly the subscription services with the largest listenership, with the split showing streaming at 34.5% of revenue compared to digital downloads at 34%.
However, in what has come to a surprise to many (including us), it’s actually Vinyl which has disturbed the record, bringing in more than dollars than ad-supported streams on the back of a 52% growth from 2015.
While there has been some debate over who is driving vinyl’s resurgence, the Record Industry Association of America’s recently released report puts vinyl sales of USD $221 million for the first half of 2015, ahead of just $162.7 million for ad-supported streaming services.
While vinyl sales are at the highest they’ve been for almost three decades, it is paid streaming services that continue to dominate music sales, with $477.9 million in revenue for the same period. This is despite megastars like Taylor Swift and Adele boycotting the big streaming sites because of the low profit gained from such an audience augmentation.
While we expect vinyl sales to continue to rise, and the streaming wars to continue in earnest, The Daily Mail reports a new challenger may be appearing in the music sales battle.
[via The Verge]