The RIAA (Recording Industry Association) has released its annual report on the income of the music industry at the end of the year. Revenues from music recorded in the retail sector reached $ 9.8 billion in 2018, representing an increase of 12% over 2017. Last year, it was a third consecutive year of double-digit growth, driven mainly by the increase in revenue from paid streaming subscription services.
The RIAA reported that 75% of the music industry's total revenue was due to subscriptions to streaming services last year. In 2018, streaming services such as Spotify, Apple Music, Tidal, Amazon Music and others reached for the first time more than 50 million subscriptions in the United States. In addition, vinyl sales increased 8% over 2017, reaching the highest level of revenue in the format since 1988. CD sales dropped by 34%. See the full report.
Read "How to be a responsible music fan in the era of streaming".