Vinyl Records Make More Money Than Youtube, Vevo and Spotify Combined

Vinyl Records Make More Money Than Youtube, Vevo and Spotify Combined
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September 28, 2015
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Sales generated from vinyl bring in more revenue for the music industry than Youtube, Vevo and free Spotify combined, according to a new report from the RIAA.
The report says that vinyl sales account for nearly a third of physical musical sales and have steadily increased 52% from last year, according to Business Insider.
On-demand and ad-based music services are growing as well, from bringing in $128 million last year to generating $163 million in only the first half of 2015. Still, revenue from ad-based music services lag behind vinyl sales, which totaled $222 million in the first half of this year.
While vinyl is becoming more widely popular again, CD sales have declined by nearly a third each year.
Overall, streaming services still make more money than records and CDs, having generated over $1 billion in the first half of 2015 versus physical recordings’ $748 million.
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      Laura Dang

      Laura Dang is a contributor at NextShark

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