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