MUSIC STREAMING CONTINUES TO PICK UP STEAM

Mar 18, 2015

By Michael Kramer

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The latest news from the world of recorded music shows that online streaming continues to pick up steam.

A new report from the Recording Industry Association of America says the U.S. retail music business in 2014 was “essentially flat” – as streaming revenue grew while money from physical shipments shrunk.

The RIIA says overall, retail revenue dropped about half-a-percent to $6.97 billion – while the wholesale take grew 2 per cent – to $4.86 billion.

The agency says the industry’s revenue mix last year was more balanced between physical, digital and streaming sources than ever before.

Permanent downloads comprised 37 per cent of the market, down from 40 per cent in 2013. Streaming revenue was 27 per cent …up from 21 per cent a year earlier. Physical shipment revenue dropped to 32 per cent.

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