Vinyl sales bigger than streaming revenue, according to US figures

Vinyl sales have increased by 52% year-on-year in the first half of 2015

Vinyl is now the fastest growing music format and has overtaken streaming in terms of revenue.

Figures released in the US show that vinyl sales have increased by 52% year-on-year to $222 million (£146m) in the first half of 2015.

Meanwhile streaming is also on the rise but not as rapidly. Streaming revenue has experienced a 27% increase during the same period to $163 million (£107m), according to the Recording Industry Association of America.

It is worth noting, however, Apple Music has not been included in the findings and that streaming income could see a marked increase in upcoming months should free trial users convert to a paid subscription of the service.

NMEPress

Data analyst Joshua Friedlander told Digiday of the news, “Overall, the music industry has become the most-digital in terms of all traditional media outlets – magazines, newspapers – in terms of transition”.

“There is more optimism out there than there was. Two-thirds of the market is still physical [CDs]. It used to be monolithic. Now it’s a mix of things, a revenue diversification that makes a more stable source to grow off of.”

“[Streaming] services have mostly grown through word of mouth. There hasn’t been a big Spotify advertising push. When you get a player like Apple involved, that really generates a whole new level of awareness.”