Other formats, such as vinyl recordings, cassette tapes, and CDs, also known as “wax presses”, were common before they became the preferred method of listening to music. But that didn’t stop it from resurfacing vinyl recordings. Since 2005, sales for vinyl have continued to grow. In the first half of 2020, vinyl revenue rose 4%, while CD revenue fell 48%, according to RIAA.
However, the stimulus of vinyl interest is not enough to keep the body selling. In the first half of this year, body sales fell 23% to $ 376 million as the epidemic continued to stifle music industry regulations. Concerts and visits to concerts are all gone.
Streaming, which includes revenue streaming, ad-supported streaming and streaming radio revenue, increased by 12% to $ 4.8 billion in the first six months of 2020, the RIAA found.
For streaming services only, more and more listeners are willing to pay to play. RIAA reports that paid streaming service subscriptions such as Spotify and Apple Music have increased by 24%.
It streams the dominant music format, accounting for more than 85% of the music industry’s revenue.
So far, overall music industry sales have grown 5.6%, mainly driven by streaming, totaling $ 5.7 billion in the first six months of this year alone.