Music is something we all love and it’s become more accessible each year. In fact, in the past few years, we’ve even had a huge return to the analog listening.
Vinyl has been making somewhat of a comeback in society. According to an article that was written by the New York Post at the beginning of this year.
According to TechCrunch, “Sales of vinyl grew in 2015. Sales were up 30 percent and accounted for almost 9 percent of physical album sales.”
Album sales went down 6 percent in 2015 and with the decline of sales, in digital tracks, the music industry is really beginning to re-evaluate how they need to include the streaming music business when it comes to top songs or albums.
Just this week the Recording Industry Association of America (RIAA) decided to modernize their Gold and Platinum Award program. Originally albums had to sell 500,000 (Gold), 1,000,000 (Platinum) and 2,000,000 plus (multi-Platinum) units. RIAA will now include music streams alongside sales to achieve those coveted statuses.
Some of those who were included in the new ranking system include Big Sean “Dark Sky Paradise” Platinum, Coldplay “Ghost Stories” Platinum, Elle King “Love Stuff” Gold, Fifth Harmony “Reflection” Gold, Halsey “Badlands” Gold, Kendrick Lamar “To Pimp a Butterfly” Platinum, The Weeknd “Beauty Behind the Madness” 2X Multi-Platinum. This just showcases how the music industry is changing.
On top of that streaming services have now become the music industry biggest revenue stream. Accounting for $1.2 billion and $385 million in ad-supported streaming.
According to a Variety which points out that RIAA doesn’t just include stream from the major subscription services. Being Spotify, Apple Music, and Tidal but they include ad-supported companies like YouTube, Pandora, Spotify’s free tier. Along with SiriusXM’s music royalties as part of the streaming revenue.
With more companies trying to get a part of that pie. There is no lack of options for anyone trying to find the best streaming service for their music needs.
It’ll be fun to see how 2016 will fair, and be sure to remember that we offer a free place to get your music fix.