Don't let those fast-slimming major label fat cats tell you otherwise, the state of the music-listening industry is strong. Statistics released by the Recording Industry Association of America reveal that the streaming industry is now worth more than $1 billion dollars a year and is gaining on a slowing downloads market.Concurrently and perhaps surprisingly, vinyl sales have risen 52% since last reported by the RIAA, in turn surpassing the revenue of ad-supported streaming programs like YouTube, Vevo, and Spotify Free. Check the RIAA-released statistics below:
Elsewhere in the report, track sales outshone album sales, paid subscriptions have leveled out, and vinyl accounts for 30% of all physical shipments. Aren't facts fun?You can read the entire RIAA 2015 mid-year report here.
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