Vinyl Sales Made More Than YouTube, Spotify and Soundcloud Ads Combined: Report
Vinyl sales in the U.S. generated more revenue in 2015 than the advertising on YouTube, Spotify combined, according to a report released Wed. (March 23) by the Recording Industry Association of America (RIAA).
The RIAA's figures revealed that vinyl sales made $416 million, while the combined total ad revenue from streaming sites Soundcloud, Spotify and YouTube accounted for only $385 million. The report also detailed that vinyl LP sales rose 32 percent last year and hit their highest total since 1988 at $416 million.
Vinyl enthusiasts should curb their enthusiasm, however, as paid digital streaming subscriptions still dwarfed both figures by accounting for $1.22 billion last year.
While the report brings positive news for some, the RIAA makes clear that the music industry still faces significant issues.
"The consumption of music is skyrocketing, but revenues for creators have not kept pace," said RIAA CEO Cary Sherman in a statement. "While today's data is encouraging, the challenges facing us are significant."