Yes, streaming is reversing recording industry declines… in countries like Sweden and Norway. But it’s still not happening in the largest music markets, including the United States, the largest recorded music market in the world.
According to data recently released by US-based recording industry trade group RIAA, streaming revenues are still failing to compensate for plummeting physical and download income.
In 2013, recording revenues fell below $7 billion for the first time ever, according to inflation-adjusted stats released by the RIAA. The group has been tracking recording revenues since 1973.
Here’s a closer look:
(a) Streaming revenues are booming, thanks to players like Pandora, Spotify, YouTube, and Sirius XM…
(b) But downloads were earning more…
(c) And CDs were earning much, much more…
Written while listening to Down.