People who are thinking CD and vinyl are old-school then they must know they are going to get wrong. The Recording Industry Association of America or RIAA has released the report for 2017 in which there are revenue figures. For the first time since 2011, physical media sales have outsold the digital downloads.
The report of RIAA doesn’t give the details about why this is popular than digital downloads. CDs and vinyl offer good quality as compared to digital formats. There are some audio formats which give better quality audio than CD quality. Vinyl offers a unique experience which cannot be felt by downloading files or by listing the songs online.
The real winner in this industry is music streaming and it is an only industry which is showing a constant rise in growth as well. The reason behind the popularity is the subscription services like Spotify and Apple Music. The RIAA call this service as “limited tier” services and they include Amazon Prime and Pandora Plus which offers limitations on paid services. It represents about 14 percent of the subscription market during the year 2017.
Paid subscriptions revenue was up to 55 percent last year and streaming revenue was up by 35 percent. This growth brings the music industry to $8.7 billion.
The sales of physical media are rising every year. The growth of the media shows that the media is doing well among other media forms. The growth can be seen in the year 2017 as compared to other years. The decline of media is less as compared to digital downloads. 4 percent for physical and 25 percent for digital. The reasons behind the popularity of CDs and vinyl because digital download sales fall low.