Meanwhile, streaming income is up by 13.4%.
For the fifth year in a row, the US music industry has recorded an increase in revenue, according to a report by the Recording Industry Association of America (RIAA).
The RIAA says the revenue stemming from recorded music grew by 9.2%, ascending to $12.2 billion, estimated at retail value. Over 80% of that figure comes from streaming services, especially paid subscriptions. The novelty here is that Facebook’s music license revenue is now included for the first time ever.
The other standout was that vinyl records revenue was bigger than physical CDs for the first time since 1986. Still, vinyl only accounts for 5.2% of total revenues by value, the report points out.
You can find RIAA’s comprehensive report here.
