Industry Experts Say Music Streaming, Vinyl Not Competitors

Although streaming may be hastening the end of the CD, it’s actually helping sales of vinyl. The Recording Industry Association of America (RIAA) reported this year that 75 percent of the music revenue in the country comes from streaming services such as Apple Music and Spotify. At the same time that CD sales have plummeted, vinyl sales have risen $2 million per year over the last three years. At a Making Vinyl conference in Detroit, experts said that streaming and vinyl are not competitive, but rather complementary. Continue reading Industry Experts Say Music Streaming, Vinyl Not Competitors

Streaming Accounts for Nearly Two-Thirds of Music Revenue

According to a 2017 report from the Recording Industry Association of America, revenue for recorded music in the U.S. grew 16.5 percent last year to a retail value of $8.7 billion. “We‘re delighted by the progress so far,” explained RIAA CEO Cary Sherman, “but to put the numbers in context, these two years of growth only return the business to 60 percent of its peak size  —  about where it stood ten years ago  —  and that’s ignoring inflation.” Variety reports: “Like 2016, the boost came primarily from the rapid growth in paid music subscriptions to services like Spotify, Amazon, Apple Music, Tidal, Pandora and others, which grew by more than 50 percent.” Streaming represented nearly two-thirds of music revenue last year. Continue reading Streaming Accounts for Nearly Two-Thirds of Music Revenue

Music Streaming Up 42 Percent While Digital Downloads Fall

Streaming is the new face of digital music consumption, according to Nielsen’s 2014 Mid-Year Music Industry Report. In the U.S., on-demand streaming was up 42 percent from last year with over 70 billion songs (audio and video) streamed in the first half of 2014. Digital track downloads fell 13 percent to 593.6 million, compared with 682.2 million last year. The entire music industry’s sales, including albums, streaming, and downloads, dropped 3.3 percent. Continue reading Music Streaming Up 42 Percent While Digital Downloads Fall

Report: LSE Recommends More Collaborative Digital Culture

The London School of Economics and Political Science (LSE) has released its “LSE Media Policy Project Brief” as a policy analysis of the digital media industry. It counters claims that media industries’ revenues are in overall decline, points to successful new businesses that are based on sharing, and questions copyright enforcement efforts. The brief also makes recommendations that the British government should halt the Digital Economy Act of 2010. Continue reading Report: LSE Recommends More Collaborative Digital Culture

Trend: New Audiophiles Looking for Hi-Fi Music Experience

A new trend in music among new generations is a return to the era of nostalgic vinyl LPs and high fidelity sound systems. One reason is fashion, but many are seeking a richer music listening experience. These music fans want high-end systems that include vinyl sounds, a more robust music experience, and elegantly designed sound systems. They are also expecting to spend several hundred to several thousands of dollars for their ideal sounds. Continue reading Trend: New Audiophiles Looking for Hi-Fi Music Experience

Universal’s Crowdfunding Effort to Save Out-of-Print Vinyl

Universal Music is developing a crowdfunding service that will support limited-edition releases of out-of-print vinyl records. The Vinyl Project aims to bring back rare and deleted records from Universal’s back catalog. CMU reports that releases currently being considered for availability to funders include “ABC” by The Jackson 5, Björk’s “Biophilia,” “Goodbye Yellow Brick Road” by Elton John, “His N Hers” by Pulp, Def Leppard’s “Hysteria” and “Disraeli Gears” by Cream. Continue reading Universal’s Crowdfunding Effort to Save Out-of-Print Vinyl

Amazon AutoRip Service Updated to Include Vinyl Records

Amazon already offers its AutoRip service, which began in January and provides free digital copies of purchased physical CDs. The company has just announced an extension of that service to include purchased vinyl records from Amazon dating back to 1998. For every vinyl purchase, Amazon will provide MP3 versions to the consumer’s Cloud Player immediately and for free. Every major record label is represented on AutoRip. Continue reading Amazon AutoRip Service Updated to Include Vinyl Records