“The claim that streaming accounted for more than half of overall music consumption is based on estimates of listening habits. The trend is nevertheless supported by separate financial data collected by the Entertainment Retailers Association, a trade group comprising streaming services and physical record sellers including Amazon and HMV,” Williams reports. “It said that streaming revenues jumped by 42pc last year to £577m, more than outweighing a steep fall in download sales and a more gentle decline in sales of physical singles and albums.”
“Physical sales were down only 3pc, propped up by a booming vinyl market,” Williams reports. “Some 4.1 million LPs were sold, 20 times as many as a decade earlier, when interest in the analogue format was at its all-time low. Last year’s sales were worth £88m and accounted for one in every 10 physical music purchases.”
Read more in the full article here.
MacDailyNews Take: Steve Jobs was famous for denouncing something right up until he embraced it.
Never say never, but customers don’t seem to be interested in it… The subscription model has failed so far. – Steve Jobs, April 2007
Never say never, indeed.
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