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Vinyl Sales And Streaming Dominate The Music Industry

sensesfail-life-vinylAccording to a surprising report from the LA Times and Nielson’s SoundScan, the sales of vinyl records are up 40% in the year of 2013. Overall album sales, however, are down 15% and overall music consumption is down 3.3% according to the report.

These numbers continue to show the increasing influence of free streaming services such as Spotify and Pandora, which are up nearly 50% since last year. Katy Perry’s “Dark Horse” is currently the most streamed song with 65 million hits, followed by John Legend’s “All of Me” with 59.4 million.

Unsurprisingly, modern music listeners flock to online streaming services over buying music. However, the increase in vinyl sales goes to show that the industry is unpredictable. It seems like consumers are willing to pay a good price for quality products that add a little extra to their favorite albums.

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Blake Corrao

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