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Music streaming soared from 7% to 80% of US market in the 2010s, RIAA stats show

LOS ANGELES: Streaming rose from 7% of the US music market in 2010 to a whopping 80% in 2019, in accordance with an eye-popping quantity from the RIAA, one in every of a number of statistics the organisation tweeted Dec 30 from what is outwardly a forthcoming decade-end report.

The statistics additionally confirmed that paid streaming subscriptions rocketed from 1.5 million to some 611 million by the center of 2019, and vinyl gross sales soared from simply over US$50mil (RM204.38mil) in income in 2010 to simply underneath US$450mil (RM1.83bil) in the identical interval – in different phrases, they had been 9 occasions larger.

Individually, the RIAA confirmed that Adele, Taylor Swift and Drake dominated the last decade’s prime 10 albums chart, accounting for some eight of the highest 10 titles of the 2010s.

Particular numbers and particulars on methodology weren’t obtainable on the time of this text’s publication, though some specifics may be discovered within the organisations earlier year-end studies. A rep for the RIAA declined Selection‘s request for additional info.

The rise of streaming was thrown into stark aid by the statistics, which confirmed that in 2010, bodily nonetheless accounted for 52% of the US market composition, whereas digital downloads accounted for 38%, streaming for 7% and synch for 3% – by mid-2019, streaming had dwarfed each different class, with bodily and downloads dropping to 9% and synch holding at 3%.

Equally, the expansion in paid subscriptions to streaming companies rocketed from 1.5 million in 2010 to 611 million by mid-2019, crossing the 10 million mark in 2015 and quickly gaining momentum, rising to 22.7 million in 2016 and greater than doubling that determine by 2018, to 50.2 million. The 2 main music-streaming companies, Spotify and Apple Music, launched within the US in 2011 and 2014, respectively.

Whereas total gross sales of bodily music (CDs, downloads and vinyl) plummeted, vinyl gross sales soared through the decade because the format, which was largely written off within the 1990s, continued its lengthy and gradual resurgence. Whereas particular figures weren’t cited, the graph exhibits vinyl gross sales rising from simply over US$50mil (RM204.38mil) in income in 2010 to simply underneath US$450mil (RM1.83bil) in 2018. – Selection/Reuters

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