Music industry continues to change dramatically

The mid-year report on the music industry by the folks at Nielsen has some shocking numbers and shows just how much consumer consumption continues to change.

Vinyl is back on the rise. Digital sales are down (way down). More people are consuming music than last year, but all the growth is all on the streaming side.

You can read the whole report here. It includes the list of which songs and artists are selling the best.

Overall streaming is showing big growth — more than 50%- with music being the primary driver.

Here are the highlights:

• Digital purchases has seen “the largest decline of all formats” at -24% year-to-year.
• Digital albums and tracks are down -21%.
• The growth is in streaming.
• Audio has now bypassed Video as the leading streaming format.
• When you add the growth in streaming, overall digital music consumption is up 15%

SOURCE: NIELSEN MID-YEAR MUSIC REPORT 2016

• Vinyl is making a comeback. Vinyl LP make up 12% of the physical music bypass. That’s a 33% increase over last year, when 9% set a record in the modern era.

SOURCE: NIELSEN MID-YEAR MUSIC REPORT 2016