Pop music is streaming more than selling

One brutal truth emerges from Nielsen SoundScan’s report on trends in the music industry for the first half of 2014: Today’s consumers are far more interested in seeing and hearing pop music than buying it. Album sales dropped nearly 15 per cent compared with the same period last year, and overall music consumption, which combines sales and streaming activity, dropped 3.3 per cent, […] In fact, the only area in which sales increased was those of vinyl albums, which still represent a tiny portion of the overall music business. The continuing resurgence of consumer interest in vinyl was reflected in the 40.4-per-cent increase in units, from 2.9 million in the first half of 2013 to 4 million so far this year. That’s still just 3 per cent of total album sales of 120.9 million units during 2014, combining CDs, cassettes, LPs and digital albums. – Randy Lewis, Waterloo Region Record http://ift.tt/1jpCqtD