Sunday, April 13, 2014

Streaming Up And Downloads Down This Year So Far

digital music image
Soundscan's sales numbers are out and it's no surprise that the same trends that we saw at the end of last year continue, only more so. Digital and physical sales were down while streaming was way up, and the hits are doing better than ever compared with the bottom of the charts.

Here's a look at some of the most important numbers:
  • Digital Sales - down 13.3%
  • CD Sales - down 21% compared to this time last year
  • Interactive Streaming - up 35%
  • Streaming Royalty Rate - up to $.005 from $.00375 last year
Even though sales are down, streaming royalties seems to be making up for the decline, which is something that was predicted would happen. In fact, if this trend continues, music industry revenue could actually rise slightly by the end of the year.

Albums continue to take a hit as well, with digital albums down by 14.2%. In fact, all genres of music posted a decline except for electronic music, which posted a modest 2.7% increase in sales.

The music business continues to evolve and the switch to streaming continues at an increased rate as consumers warm to having access to, rather than owning, music. With several new streaming services about to be introduced, it will be interesting to see if the trend accelerates even more.

No comments:


Related Posts Plugin for WordPress, Blogger...