Streaming services overtake physical sales for the first time
25 March 2015, 12:20
| Written by
Ben Curtis
(News)
The Recording Industry of America (RIAA) has announced that in 2014, for the first time, streaming services overtook physical sales in the US.
Websites including Spotify, YouTube and Vevo netted a total revenue of $1.87 billion, $0.02 billion more than physical sales. This equated to a 29% increase in revenue for streaming services from the previous twelve months.
However, the highest volume of vinyl sales since 1987 has boosted physical sales. Vinyl sales in the US were up a staggering 49% year-on-year; netting $315 million.
The full report has been published here.
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