The Recording Industry Association of America Released its Mid-Year Report

The report found that total music revenues are up by 10% from this time last year. This is a smaller growth than the one between 2016-2017. The report says that 75% of the revenue is from streaming the bulk of that 75% being from paid subscriptions. Estimates say that 1 million new paying subscribers are being added per month on streaming services. This is a big contrast to digital downloads that are steadily dropping. They went down by 27% last year and are almost tied with physical media purchases.

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Physical media is increasing due to the popularity of vinyl. CD sales are going down fast but vinyl keeps growing and it is expected that there will be a surge of vinyl purchases around the holidays. It won’t be long until physical purchases outnumber digital downloads.

(source)

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