Just SITTNewZ
PITCHFORK LINK HERE
https://pitchfork.com/news/vinyl-record-sales-increased-almost-30-in-2020-riaa-says/?fbclid=IwAR2iLe2U-fEQIAn9aspe-jL20TyENxjD46sR3YzqRMzIv2bB6noTKjbynrQ
The RIAA has released its annual year-end revenue report, surveying the state of the recorded music industry at the end of 2020. Despite the coronavirus pandemic, trends across the past several years carried on: Streaming is up 13.4%, generating $10.1 billion last year compared to $8.9 billion in 2019, accounting for 83% of the total revenue of the industry. Vinyl sales have continued to rise, too, increasing a whopping 29.2% to $619.6 million, compared to $479.5 million in 2019.
The rise in vinyl sales made up for the continued decline in CD sales, leading to a marginal 0.5% decrease in revenue across all physical media from to 2019 to 2020. Music downloads continue to trend downwards, too, decreasing by 18% to $674.4 million last year as compared to $822.8 million in 2019. The RIAA report concludes that streaming has driven the industry to grow for the fifth consecutive year, with revenues increasing 9.2% in 2020, generating $12.2 billion in total.
Sponsored by
The SITTBOX App
thesittbox.com
HustLn Mz Bryckz Clothing Collection
HeartBck JeaNs #HeartBckJeaNs
Symphonic Distribution
Star In The Trap Entertainment
