Digital music consumption is rapidly shifting from downloads to streaming, according to Nielsen’s latest US Music report.
Overall, on-demand streaming is up a whopping 42% over last year, with on-demand audio up 50.1% and on-demand video up 35.2%.
Vinyl was also a big winner, with LP sales up 40.4%, while overall album sales over all formats fell 15%.
Nielsen Entertainment SVP David Bakula said more than 70 billion songs were streamed in the first six months of 2014.
“Streaming’s 42% year-over-year growth and vinyl LP’s 40% increase over last year’s record-setting pace shows interest in buying and consuming music continues to be robust, with two very distinct segments of the industry expanding substantially,” said Bakula
ABOUT THE AUTHOR
Kye began his career at a Fairfax daily on the North-West Coast of Tasmania. He has since taken his belongings, and keen interest in technology, to Melbourne. He has a bachelor of Arts majoring in Political Science from the University of Tasmania and a Graduate Diploma in Journalism from RMIT University.
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