RIAA Releases 2018 Year-End Music Industry Revenue Report (streaming is in, CDs are out)

RIAA ^ | February 28, 2019 | RIAA

[DoodleBob]

Fueled by tremendous creative output by groundbreaking artists and now more than 50 million paid subscriptions, the U.S. music industry experienced its third year of consecutive growth in 2018 with retail revenues up 12% to $9.8 billion. Streaming now comprises 75% of total industry revenues. Vinyl continues to be a bright spot for the physical market, up 8% to $419 million, the highest revenue level since 1988.

[DoodleBob]

The full report can be found here. I find this incredible, that streaming is so dominant and that digital downloads and CDs are collapsing.

So, revenues are up...

...but streaming is how most music is delivered nowadays, with physical sales about equal to downloads:

Here is the raw data - and notice that albums are bouncing back:

[Rurudyne]

I’ll stick to CDs I can find at estate sales. Mark me down as unmutual.

[LostInBayport]

In this part of culture I am a dinosaur, I guess. I still buy and play CDs (though truth be told I haven’t bought many at all in recent years) in addition to listening to streaming music all day when I work.

The streaming is great because it is random techno/ambient stuff that is perfect company for work. I do love it. But I still think there is a certain charm or cohesion to the set of songs on the CD coupled with the covers and liner notes sitting nearby.

[Uncle Miltie]

I bought a turntable this year for our weekly “analogue night” in which electronic devices are banned.

Fun stuff! $1 per record at thrift stores. Watch for scratches!

[Bonemaker]

I have records...what does everyone else have?

[Gay State Conservative]

Thanks largely to living in a town where I have access to libraries that have tens of thousands of CDs of all genres (as well as CD burners) I have a music collection of about 5,000 songs.

Since I was a kid I've believed that if a song was worth owning it was worth owning in its "purest" form.

MP3s are OK for my phone and my car...but at home it's either CD,SACD or DVD-Audio for me!

[DAC21]

Convenience over quality...the Millennial way.

[frank ballenger]

Me, too.

I am not ashamed to say I am a Luddite and a throwback.

Giving up ownership of music and video by allowing a company to tell you what you are allowed to RENT is preposterous.

What would you (not you LostInBayport) do if a Muslim corporation took over your streaming and downloading and said” No female artist who does not exhibit modesty in dress and wear a hijab will be allowed to you from today on.”

Same for streaming movies and TV.

Or, only vocal supporters of Dems including BernieAOC, Mayor Pete and others, will be allowed to have their music available to you. Others such as Trump supporters are not allowed to you.

[DAC21]

“Convenience over quality...the Millennial way”

I won’t start a Vinyl vs. CD fight,but either vs streaming is a 1st. round knock out if you are relaxing at home.

[Yardstick]

That is wild about vinyl. Best year since 1988 — wow.

I never fully switched away from vinyl. I had cassettes and then CDs of my favorite music to listen to in the car or on a Walkman or a boom box or whatever, but at home I’d mostly listen to vinyl. Even now most of my music purchases are vinyl albums — some new stuff but mostly old stuff on eBay. BTW, used vinyl is no longer dirt cheap unless it’s the absolute dregs. Used prices have perked up considerably since the late ‘90s and early 2000s.

[zeugma]

Same here. I have some good used book stores around here with pretty good CD selections. Much better than buying new.

[Pravious]

“...Fueled by tremendous creative output by groundbreaking artists...”

Oh, yeah. Right.

[Pravious]

I have records...what does everyone else have?

—

78s, 45s, 33s, CDs, digital files - whatever sounds best.

[kingu]

Gosh, so all that pirated music didn't kill the music industry, it was simply they were refusing to listen to the consumer who wanted a subscription based model to access the digital libraries?

Perhaps the RIAA could generously give back the heavy fines they imposed on grandmas across the nation as a gesture of goodwill.

(Note: I firmly believe that the music industry killed itself; new CDs should have dropped to $5. Instead, they're still trying to push $15 new releases. They let themselves be cannibalized by the used music market.)

[FLT-bird]

I can’t believe vinyl is a thing in the US....and its the US. This is not happening overseas.

It is outdated technology. It would be like the Model T making a comeback. Wooh! I just can’t wait to go outside today and hand crank my car so it will start! Yeah ummmm, no.

[SauronOfMordor]

You raise a good point.

There’s another recent FR thread about salesforce.com telling businesses they can’t use their software if they sell AR-15’s

http://www.freerepublic.com/focus/f-news/3753353/posts

When what you want is in the cloud, you are vulnerable to bring denied access to it.

[DoodleBob]

I have records...what does everyone else have?

I don't use it too often, but I have a recording of Beethoven's 9th on RTR that positively blows away any other medium I ever had.

Of course, it's a bitch to carry on my daily jog...

[Nothingburger]

Ditto that. I still like collecting things I can hold in my hand.