Music streaming is fueling vinyl’s resurgence

Streaming has been blamed for killing off the CD, but industry experts agree it’s helping bolster the growth and quality of another physical music format: vinyl. Since 2015, streaming income has eclipsed CD sales, and the likes of Apple Music and Spotify have become major players in the music industry. This year the Recording Industry Association of America reported that 75 percent of music revenue in the United States came from streaming services. In the past three years, vinyl sales in the US have steadily risen about $2 million annually.

On paper, it doesn’t make sense. Why would anyone buy an album they can only listen to in one specific environment, when for half the price of a new record, they can put it and millions of others in their pocket and listen anywhere?

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Meet the YouTube Stars Turning Viewers Into Readers

When Christine Riccio was a teenager growing up in New Jersey, she and her sister would upload videos to YouTube of the two of them being silly, dancing to Britney Spears’s “Piece of Me” or attempting a back flip. It wasn’t until Ms. Riccio was in college in 2010 that she “actually talked to the camera” for the first time and decided to upload a video book review of Suzanne Collins’s “The Hunger Games.”

“I was reading a lot of books, and I had no one to discuss them with,” she said, explaining why she turned to the internet. “I was like, ‘I’ll be lucky if I ever get 500 subscribers over here.’”

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How Amazon’s Twitch.tv Cheats Music Creators

Music creators (songwriters and performing artists) and rights’ owners (music publishers and record labels) are not collecting a new and substantial source of income – and most of them are not aware they are not collecting it. Enter Twitch, the website exploiting creators and owners without paying for a single cent of music usage.

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Streaming services account for 75% of all music listening in 2018, up from 50% in 2016

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Anyone who knows anything about today’s music culture knows that streaming is the preferred form of music consumption. But on Friday, figures from Nielsen showed how far streaming come in the span of two to three years.

The Mid-Year Music Report revealed that in the first half of 2018, Americans streamed 403 billion songs, via both video and audio services. That’s almost 100 billion songs more than what they streamed in all of 2015, when streaming accounted for as much as half of US music revenue. Comparing apples to apples, as this chart from Statista does, streaming accounted for 25% more of the United States’ total music consumption in the first half of 2018 than it did during the same period of time in 2016.

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The Music Industry: From Piracy To Profits

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Streaming is bringing money back to the music industry and affecting many related areas.

After being crushed by piracy for almost two decades, streaming is allowing users to have the experience they want at a price they can afford. Though music industry revenues are still below the peak levels of 1999, the past two years have been the first years of material growth since the peak with an increase in industry revenues of 16.5% in 2017.

To provide some background, the music industry has had a long battle against piracy, which dealt the recorded music business a tremendous number of setbacks. To this day, Napster has had the fastest user growth of any company in history, primarily due to the fact that they were illegally assisting in giving away a premium product for free. This caused nearly unstoppable piracy en masse, and within 10 years, revenues from the recorded industry saw a massive decline.

Continue @ Forbes