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Streaming Music Helped The Music Industry Grow By Double-Digits In 2017

Streaming Music Helped The Music Industry Grow By Double-Digits In 2017 | Hot topics in the music industry | Scoop.it
How much money was poured into the music industry in 2017? A lot more than has been for many, many years.
Josh Lacys insight:
This article was about how the growth of physical cds sold is beginning to raise again. I thought the reading was very interesting because the numbers are showing steady growth and have a promising future.  

I think that this article was published by a reliable source because the author Hugh McIntyre has also written articles by other major news sources like billboard, the Huffington post and MTV just to name a few. 

I don’t know if this article will pose as a major informational resource for industry professionals. 

Michael Fluharty's curator insight, May 24, 11:39 PM
I believe that this was bound to happen because it is much easier and cheaper to stream music rather than buying a physical copy. This source proves to be reliable due to the fact that it has cited all of its sources. I believe that this source is a major informational resource.
Robert Andrade's curator insight, July 26, 7:52 PM
The fact that streaming has become a huge part of how we consume music is incredible. It’s easy, its simple, and its quick. As far back as we can document, human kind has strived to find the easier, better, and quickest way of doing everything. It’s in our DNA, and this topic only proves it more. I look forward to how the music industry will benefit more as we improve ourself Ana’s technology. The website that this information is from seems to me to be very reliable. It give the name of the the person who wrote the article, it give his credentials, and it gives his sources. I think this article would help many in this industry. It proves that its reliable and its trustworthy.
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Music streaming surpasses CD sales worldwide for the first time - News

Music streaming surpasses CD sales worldwide for the first time - News | Hot topics in the music industry | Scoop.it
[Photos by: Pexels] While one might already assume it's the case, it looks like streaming has finally surpassed CDs as the largest music format worldwide, according to a new report from the International Federation of the Phonographic Industry. Read more: Apple to shut down iTunes music downloads Per the IFPI's annual data, the global recorded music market grew 8.1 percent in 2017, as reported by Digital Music News. Indeed, artists are releasing more music than ever, and technology hasn't really changed our musical tastes, but one thing has changed: For the first time ever, streaming music revenue has topped sales from any physical formats. Yep, subscription music services' streaming revenue rose over 41 percent last year, to $6.6 billion, all of which makes up 38 percent of the total global market for recorded music, as noted in the IFPI Global Music Report 2018. And, of course, the sales of physical music media remain on the downslide. As it stands, they reportedly account for only 30 percent of the total global music take, down 5.4 percent from the previous year to $5.2 billion in 2017. Even music downloads saw a sharp decline in sales, falling 20.5 percent to $2.8 billion. And that may be a huge factor in Apple's recent decision to shut down all music downloads on the iTunes Store within the next year. Overall, the IFPI's calculated total revenue for all sales in 2017 lands at just 68.7 percent of the music market's peak in 1999. Will CDs eventually see a total takeover by streaming products? It looks more likely every year. Do you still listen to CDs or other physical music media? Do you still buy music downloads? Sound off in the comments. The Global Music Report 2018 is out now. For the definitive snapshot of the recording industry worldwide today head to https://t.co/5ymX70VLNM#GMR2018 pic.twitter.com/HJTzeT7S2E — IFPI (@IFPI_org) April 24, 2018 Watch more: Nikki Misery's miserable makeover TAGS: stream spotify technology tech apple music music streaming streaming media streaming music tech news RECOMMENDED
Josh Lacys insight:
According to this article written by Phillip Trap, 2017 was this first year that streaming surpassed cds as the largest music format worldwide. As a whole the recorded music market grew by 8.1%. Subscription music services grew by 41% to 6.6 billion which made up for 38% of the total market. Cds fell 6% last year to 5.2 billion but still holds strong and makes up 30% of the total market. 

I think this is a reputable source because the author is noted and the site seems legitimate. 

I think that think is a major informational source for industry professionals because the numbers could mean that the industry is growing in the coming years.
Michael Fluharty's curator insight, May 24, 11:38 PM
I believe that this was bound to happen because it is much easier and cheaper to stream music rather than buying a physical copy. This source proves to be reliable due to the fact that it has cited all of its sources. I believe that this source is a major informational resource.
Robert Andrade's curator insight, July 26, 7:41 PM
As we move farther and farther into the future, the way we consume music will change. Music is a form of art and art is always changing and taking new shapes. I think that altpress is a good source of information. There’s names of the people who wrote the articles, there’s links to the sources of their information, and the qualifications are all there. I think that this websites is a pretty big source for people in this industry. Many people read their articles and their information is reliable.
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RIAA: download sales fell faster than physical in 2017 | Darko.Audio

RIAA: download sales fell faster than physical in 2017 | Darko.Audio | Hot topics in the music industry | Scoop.it
Don’t call it a comeback. The US music industry is once again in rude health according to figures recently published by the Recording Industry Association of America (RIAA). For 2017, music sales and streaming clocked up $8.7 billion in revenue. That’s ↑$1.2 billion on 2016, which itself was ↑$0.8 billion on 2015. And in case it wasn’t anecdotally obvious, American listeners prefer to rent music than own it. Streaming service revenues continued to climb – ↑43% on 2016 – with the likes of Spotify, Tidal and Apple Music now generating two-thirds of the US music industry’s total revenue. Downloads and physical formats all but made up the remaining third. In other words, for every dollar spent on a download, a CD, a vinyl record or a cassette, two are spent on streaming. Within that 2017 music-owning minority, another significant shift occurred. For the first time in over half a decade, the percentage of revenue generated by downloads (15%) fell below that generated by physical formats (17%). Not that physical format sales themselves were especially robust (they were ↓4%). It’s that download revenues fell harder. Much harder. Off a cliff: ↓25%. [Source: Business Insider] Looking more closely at physical format sales, vinyl revenues were ↑10% but the biggest surprise came from the format that just can’t get any respect – the CD – whose revenues were ↓6% – only a single-digit drop, and one-quarter of downloads’ 25% tumble. Not that you’d know it from mainstream press coverage but dollars dropped by Americans on CDs in 2017 still outnumber dollars dropped on vinyl. And by quite some margin. CDs generated $1.1 billion dollars in revenue. Vinyl did well under half that: $395 million. Remember though: this is revenue, not unit sales. With vinyl’s premium pricing factored in (usually $10 on its shiny disc-d younger brother), the total number of CDs sold in the USA last year is probably somewhere between three and four times the number of vinyl records sold. [Source: Digital Music News] So let’s spin the RIAA report a different way: the CD is still the most popular physical music format in the USA… …as it has been since the early 1990s. According to this archived 1991 Fortune article, RIAA-reported US music industry revenue broke down as follows (in ‘2007 dollars’): LPs $138.1 million (1%) Cassette $4,810.7 million (41.4%) CDs $6,472.6 million (55.8%) These numbers remind us that prior to the CD’s golden run through the 1990s, before Napster ruined the party, the cassette tape was the second most popular physical format — not vinyl. According to the following animated graphic (source unknown), the cassette tape ate 8-track tape sales in the late 70s before converting would-be vinyl buyers in ever-increasing numbers. By 1983, a year after the CD’s introduction, cassette sales almost matched LP sales 1 for 1. The cassette then occupied a steady 50% of music sales throughout the 1980s, unmoved by CDs until the turn of the decade when shiny silver disc began began to eat its lunch. It’s not hard to see why. The CD offered consumers the portability of cassettes with none of its hiss or wow and flutter. Spinning one more time: the CD didn’t drive consumers away from vinyl; it saved them (us!) from cassettes. Returning to 2018’s streaming age dominated by MP3 (or similar lossy codecs), the CD and its uncompressed contents are reflected by its mirrored surface as an audiophile luxury. For those who miss owning stuff, CDs are smaller, more durable, car-playable, more easily ripped to hard drives and are easier to store (and move house with!) than vinyl. And yet they still deliver the pleasure of owning a physical format, albeit smaller. Mentally extrapolating the latest RIAA stats, CDs probably won’t disappear altogether but rather slide into a comfortable niche. We might wonder: will CD sales plateau before they drop as low as vinyl? If you’re one to joke about how “no-one listens to CDs anymore!” (and you’d be half right) then it’s worth noting that even fewer people listen to vinyl. Further information: RIAA 2017 revenue statistics report
Josh Lacys insight:
This article explains how downloadable music fell by 25% in 2017. That’s the largest drop off in sales in over half a decade. Cd sales also dropped in 2017 but only by 6% which means that physical sales still dominates the market.

I don’t know how reputable John Darkos sources are because he hasn’t written any articles for any reliable major sources in the US. 

 I don’t think that this is a major informational for industry professionals 
Michael Fluharty's curator insight, May 24, 11:39 PM
I believe that this was bound to happen because it is much easier and cheaper to stream music rather than buying a physical copy. This source proves to be reliable due to the fact that it has cited all of its sources. I believe that this source is a major informational resource.
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Streaming Music Helped The Music Industry Grow By Double-Digits In 2017

Streaming Music Helped The Music Industry Grow By Double-Digits In 2017 | Hot topics in the music industry | Scoop.it
How much money was poured into the music industry in 2017? A lot more than has been for many, many years.
Josh Lacys insight:
This article was about how the growth of physical cds sold is beginning to raise again. I thought the reading was very interesting because the numbers are showing steady growth and have a promising future.  

I think that this article was published by a reliable source because the author Hugh McIntyre has also written articles by other major news sources like billboard, the Huffington post and MTV just to name a few. 

I don’t know if this article will pose as a major informational resource for industry professionals. 

Michael Fluharty's curator insight, May 24, 11:39 PM
I believe that this was bound to happen because it is much easier and cheaper to stream music rather than buying a physical copy. This source proves to be reliable due to the fact that it has cited all of its sources. I believe that this source is a major informational resource.
Robert Andrade's curator insight, July 26, 7:52 PM
The fact that streaming has become a huge part of how we consume music is incredible. It’s easy, its simple, and its quick. As far back as we can document, human kind has strived to find the easier, better, and quickest way of doing everything. It’s in our DNA, and this topic only proves it more. I look forward to how the music industry will benefit more as we improve ourself Ana’s technology. The website that this information is from seems to me to be very reliable. It give the name of the the person who wrote the article, it give his credentials, and it gives his sources. I think this article would help many in this industry. It proves that its reliable and its trustworthy.
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Physical record sales are out-selling digital downloads once more

Physical record sales are out-selling digital downloads once more | Hot topics in the music industry | Scoop.it
Physical album sales of vinyl and CDs have out-stripped digital downloads for the first time since 2011 in the USA, according to the latest end of year report published by the Recording Industry Association of America (RIAA).
Josh Lacys insight:
Anton spice was the author of this article and he also stated that vinyl and cd sells topped the sales of digital downloads. Coming in second place with 17% of music sales next to streaming sales which came in at 54% of music sales. Digital downloads only accounts for 15% of sales in 2017. Vinyl and cds combined brought in a total of 1.5 billion dollars last year as to digital downloads only racked in 1.3 billion. I think it’s amazing how after all of these years vinyls and cds have been on the market they are still making good money for the industry as a whole, even though sales were in decline by 6%.

I think it’s a reputable source because the name of the author is listed on the article and it came from a popular webpage via thevinylfactory.com

I don’t know weather this is a major Informational source for industry professionals 
Michael Fluharty's curator insight, May 24, 11:35 PM
I believe that this was inevitable due to the increased popularity and ease of streaming services.  The article doesn't seem to have any sources listed. I do not believe this is a reliable source in the sense that the content may not be 100% accurate. I believe that this source is not a major informational resource.
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Report: Physical Albums Sell Significantly Better Than Digital Ones

Report: Physical Albums Sell Significantly Better Than Digital Ones | Hot topics in the music industry | Scoop.it
Americans really don't seem to be interested in purchasing digital albums, while physical discs are still holding on (but losing ground).
Josh Lacys insight:
This article by Hugh McIntyre is explaining that although physical cd sales are up, they are still doing better than digital music despite losing 10 million dollars in 2017.  This article was worth the read because it gave the growth numbers of physical sales activity as well as the declined sales numbers. This made for an interesting story because it gave insight into the probability of next years sales 

I chose this article because Hugh McIntyre seems to be a pretty reputable source being he writes articles for all the big name companies. 

I don’t know if this is a major informational source for industry professionals.
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