RIAA: Streaming, Subscription Revenues Topped $800 Million In 2012 According to projected Nielsen SoundScan data, recorded music sales dropped slightly in 2012 compared to 2011, while album sales appear to have held relatively steady over the last three years. This suggests that, while the music industry continues to face a sales decline, it is not as drastic as many analysts feared just several years ago. In fact, as the recorded music industry has evolved and overall sales measurement has shifted, there are some very significant ways in which consumers are accessing and purchasing music that are not reflected in overall sales figures. As Recording Industry Association of America [RIAA] VP Joshua Friedlander said this week, "these include such subscription services as Rhapsody and Spotify, streaming services like Pandora and iHeartRadio, and thousands of online radio stations, mobile purchases like ringtones and ringbacks, and on-demand services like Youtube and Vevo." Based on total dollars, subscription, mobile, and digital performance royalties accounted for more than $800 million (12%) of the $7 billion U.S. music market last year. "That contribution is likely to continue rising as those services continued growing in users and listener hours in 2012," Friedlander explained. "All this collectively demonstrates an industry that has diversified how it does business and offers fans music in a staggering array of models and services." [Full story: RIAA] |
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