Although streaming services continue to dominate the business of recording music, there are still many places in physical media in this field. The U.S. record industry said in an annual report [] Vinyl recorded sales rose to $1.4 billion for the 18th consecutive year, the highest revenue for the format since CDS began to emerge in 1984.
Vinyl accounts for nearly three-quarters of physical format revenue in 2024. This is the third consecutive year of vinyl record volumes of goods than CDS – 44 million to 33 million. RIAA has considered the case of vinyl directly from sales data in standalone labels for the first time this year. Taylor Swift releases In her latest album The tortured poet’s departmentincluding eight vinyl editions.
Many fans prefer to have For many reasons, for example, they believe that vinyl offers better audio quality and full range Doing a streaming service, and a better way . Searching shelves in record stores is also a fun pastime. Vinyl records and CDs are also hedging the possibility of disappearing from streaming services that pull music from the platform if the rights agreement expires or the artist decides to pull music from the platform.
Still, streaming services hit a new milestone last year. RIAA reported that the average paid subscription number for the year reached 100 million for the first time. This is a 3% increase over 2023.
Revenue from paid subscriptions grew 5% to $11.7 billion, and total streaming revenue (all content from ad-supported services to fitness apps) rose 4% to $14.9 billion. Streaming in the third year accounts for 84% of music revenue.
