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Streaming hits $1 billion for the first time, vinyl still on the rise

It’ll come as no surprise that vinyl sales are increasing, as wax has been on the up for years. However, new data released this week by the Recording Industry of America (RIAA) shows that vinyl in the US now generates more revenue than all the major free music streaming platforms combined.
As The Vinyl Factory reports, the music royalties generated by YouTube Music, VEVO, SoundCloud, free Spotify and all ad-supported streaming platforms combined earned $162.7 million in the first six months of this year, while vinyl sales reached $221.8 million.
On top of that, vinyl sales are up 52% since last reported by the RIAA, with over 9.2 million units sold. Track sales are outshining album sales, and vinyl accounts for 30% of all physical units shifted.
People have pointed out that this suggests a healthy emerging relationship between the two as people tend to use free services to try before they buy.

The whole report can be found here

[Via The Vinyl Factory]