The RIAA released its annual year-end earnings report, which examines the state of the recorded music industry at the end of 2020. year compared to $ 8.9 billion in 2019, accounting for 83% of the industry’s total revenue. Vinyl sales have also continued to grow, at a staggering 29.2% to $ 619.6 million, compared to $ 479.5 million in 2019.
The increase in vinyl sales offset the continued decline in CD sales, leading to a marginal 0.5% decline in revenues across all physical media from 2019 to 2020. Music downloads also continue to show a downward trend, with a decline of 18% to $ 674.4 million last year compared to $ 822.8 million in 2019. The RIAA report concludes that streaming has grown the industry for the fifth consecutive year, with sales up 9.2% in 2020, which totaled $ 12.2 billion. Read the full report here.
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