, and it’s a stark illustration of the haves / have-not divide that’s been accelerating in the streaming era. Actually, scratch that: it’s a terrific illustration of how good it is for theretail revenue is up 9.3 percent to an all-time first half high of $8.4 billion, while wholesale revenue is up 8.3 percent to 5.3 billion.
Streaming revenue was up 10.3 percent from last year — at $7 billion, it accounts for 84 percent of music revenue in the United States. Importantly, the RIAA explicitly notes that revenue from paid subscriptions grew 11 percent to $5.
to get paid for radio play to absurd levels. But hey, at least the tech execs and label bosses are happy.— vinyl fans will be happy to see the format continues to grow, with physical media hitting the highest revenue since 2013, although it’s comparatively small at $882 million. Vinyl accounted for $632 million of that, and the format makes up 72 percent of physical media sales, with 23 million albums sold compared to 15 million CDs.
Source: News Formal (newsformal.com)
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