Vinyl sales exceeded revenues of music streaming services with a free subscription by 36%
Sales of music on vinyl exceeded the revenues of the online service Spotify , music video sites YouTube and VEVO combined. This conclusion was reached by RIAA experts in their study .
On-demand music services, online services with a free subscription and advertising monetization in the first half of this year earned $ 163 million. Last year, this amount did not exceed $ 128 million. However, revenues from vinyl were significantly higher and amounted to $ 222 million.
Almost vinyl that has sunk into oblivion now accounts for almost a third of sales of music on physical media. They grew by 52% over the same period last year. No other music format shows such high performance. CD sales, by contrast, declined by a third year to year. Now users prefer to use streaming services or download music from the Internet. Despite the fact that paid music downloads are the main source of profit for the music industry and account for 37% of the industry’s revenues, its popularity is also falling. So, last year recorded a decline in revenue by 8.7%, to $ 2.58 billion.
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The growth of popularity of music on vinyl records is associated with the presence of exclusive content in special editions of albums or singles. The plates are produced in small editions, have a colorful design and other related bonuses. It is worth making a reservation that revenues from vinyl are still inferior to the revenue of streaming services with a paid subscription. Such services earned about $ 1 billion in the first half of 2015. CD sales fell to $ 748 million.
Nevertheless, according to the RIAA forecasts, the number of paid subscribers of streaming services in the next 6 months will stop growing or even decrease.
Many musicians with mistrust and pessimism look at the opportunity to get a serious income from their music on streaming services. September 24, a discussion of the income of the author of one of the most popular songs of recent years, hosted on Spotify, was held. Kevin Kadine earned only $ 5679 there. It was about the song "All About That Bass", which the users of the Spotify service alone listened more than 178 million times. The fact is that now the share participation of songwriters who fall into the music services is prescribed by a very long-standing law adopted as far back as 1911. In other words, the author’s share is determined not by the agreement with the music service, but by the government.
If these problems are not resolved in the near future, even more musicians will refuse to cooperate with online services and begin to sell their records on vinyl records, writes Business Insider.
On-demand music services, online services with a free subscription and advertising monetization in the first half of this year earned $ 163 million. Last year, this amount did not exceed $ 128 million. However, revenues from vinyl were significantly higher and amounted to $ 222 million.
Almost vinyl that has sunk into oblivion now accounts for almost a third of sales of music on physical media. They grew by 52% over the same period last year. No other music format shows such high performance. CD sales, by contrast, declined by a third year to year. Now users prefer to use streaming services or download music from the Internet. Despite the fact that paid music downloads are the main source of profit for the music industry and account for 37% of the industry’s revenues, its popularity is also falling. So, last year recorded a decline in revenue by 8.7%, to $ 2.58 billion.
')
The growth of popularity of music on vinyl records is associated with the presence of exclusive content in special editions of albums or singles. The plates are produced in small editions, have a colorful design and other related bonuses. It is worth making a reservation that revenues from vinyl are still inferior to the revenue of streaming services with a paid subscription. Such services earned about $ 1 billion in the first half of 2015. CD sales fell to $ 748 million.
Nevertheless, according to the RIAA forecasts, the number of paid subscribers of streaming services in the next 6 months will stop growing or even decrease.
Many musicians with mistrust and pessimism look at the opportunity to get a serious income from their music on streaming services. September 24, a discussion of the income of the author of one of the most popular songs of recent years, hosted on Spotify, was held. Kevin Kadine earned only $ 5679 there. It was about the song "All About That Bass", which the users of the Spotify service alone listened more than 178 million times. The fact is that now the share participation of songwriters who fall into the music services is prescribed by a very long-standing law adopted as far back as 1911. In other words, the author’s share is determined not by the agreement with the music service, but by the government.
If these problems are not resolved in the near future, even more musicians will refuse to cooperate with online services and begin to sell their records on vinyl records, writes Business Insider.
Source: https://habr.com/ru/post/294858/
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