A study just released by the RIAA shows bad and worse news for sectors of the recorded music business like physical media sales and digital downloads … but better and better news for streamin…
shows bad and worse news for sectors of the recorded music business like physical media sales and digital downloads … but better and better news for streaming. And that’s the only news that matters when it comes to revenue for the music industry in the United States. Streaming grew 13% in 2019, from $9.8 billion to $11.1 billion in retail value, accounting for 79% of the overall pie.
Physical sales now account for just 10% of the marketplace. But some of the biggest shrinkage continues to be in digital downloads, which served for years as the bridge between CDs and streaming, but which now add up to just 8% of revenue. The download downfall between 2018 and 2019 was 18%. Thepointed out that this was the first year since 2006 that the money brought in from paid downloads came in at less than a billion dollars.
The graph the RIAA is most excited to point to is the one showing revenue growth over the course of the previous decade. In 2009, it stood at $7.8 million, and it essentially flatlined for the first half of the last decade before making a precipitous rise these last few years to the last years $11.1 billion.
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