The day of the physical consumption of music may be ending sooner than we thought.
The use of streaming services has soared during the first half of 2015 according to the RIAA, taking over second place from physical products for the music dollar. Permanent downloads is still the leader, accounting for 40% of the market, but almost every format lost share compared to the first half of 2014:
- Download Singles - $687,600,000 - down 9.4%
- Download Albums - $571,500,000 - up 4.2%
- Ringtones and Ringbacks - $28,000,000 - down 22.0%
- Music Videos - $7,300,000 - up 5.7%
- Paid subscriptions - $477,900,000 - up 24.9%
- On-demand Streaming (ad supported) - $162,700,000 - up 27.1%
- CD's - $494,800,000 - down 31.5%
- LP's/EP's - $221,800,000 - up 52.1%
- Music Videos - $23,700,000 - down 19.4%
- Vinyl Singles - $4,200,000 - up 21.8%
- DVD Audio - $2,400,000 - up 453.5%
- SACD - $400,000 - down 11.9%
“At the same time, intense demand and billions of streams does not always equal fair market rates or a fair playing field. Addressing that is an essential element of fulfilling the enormous promise of today’s digital marketplace.”
The RIAA report can be seen here.