The RIAA released its annual year-end revenue report, assessing the state of the recorded music industry in late 2020. Despite the coronavirus pandemic, trends in recent years have continued: transmission has increased by 13.4%, generating $ 10.1 billion in the last year against $ 8.9 billion in 2019, accounting for 83% of the sector’s total revenue. Vinyl sales also continued to increase, increasing a staggering 29.2% to $ 619.6 million, compared to $ 479.5 million in 2019.
The increase in vinyl sales offset the continued decline in CD sales, leading to a marginal 0.5% reduction in revenue across all physical media from 2019 to 2020. Music downloads also continue to decline, decreasing 18% to $ 674.4 million last year, compared to $ 822.8 million in 2019. The RIAA report concludes that streaming has driven the industry to grow for the fifth consecutive year, with revenue growing 9.2% in 2020 , generating US $ 12.2 billion in total. Read the full report here.
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