James Donio, President of the Music Business Association (Music Biz), commented on the 2015 RIAA Shipment and Revenue Statistics report, issued today.
“We are really encouraged to see the industry reaching a new sense of equilibrium, leading to an overall revenue increase of .9% to $7 billion. According to the 2015 RIAA Shipment and Revenue Statistics report released today, about 1/3 of revenue came from streaming (34.3%), digital downloads (34%) and physical sales (28.8%). Streaming had a banner year, with revenue growing 29% to top $2 billion for the first time, and overtaking digital downloads as the top revenue generator. The numbers also show that the digital download and physical markets remain resilient. While each experienced declines of 10% from last year, they have stayed strong enough to allow the rise of streaming to offset those decreases.
“In 2015, all aspects of the streaming market were up, with an exciting blend of high-performing established services and new entrants to the space. Revenue from paid subscriptions was up 52% as the increased exposure around these services introduced a whole new generation to streaming, while on-demand ad-supported streaming also grew a solid 31%. Meanwhile, the force is still with vinyl as revenue jumped another 32% to $416 million, the format’s highest level since 1988.
“This all further underscores the fact that the music industry is experiencing a state of balance, as the newer formats deliver on their potential, while legacy formats continue to serve fans and provide a viable source of revenue. Here’s to a successful and vibrant year ahead.”
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