Digital music consumption is rapidly shifting from downloads to streaming, according to Nielsen’s latest US Music report.
Overall, on-demand streaming is up a whopping 42% over last year, with on-demand audio up 50.1% and on-demand video up 35.2%.
Vinyl was also a big winner, with LP sales up 40.4%, while overall album sales over all formats fell 15%.
Nielsen Entertainment SVP David Bakula said more than 70 billion songs were streamed in the first six months of 2014.
“Streaming’s 42% year-over-year growth and vinyl LP’s 40% increase over last year’s record-setting pace shows interest in buying and consuming music continues to be robust, with two very distinct segments of the industry expanding substantially,” said Bakula
Kye began his career at a Fairfax daily on the North-West Coast of Tasmania. He has since taken his belongings, and keen interest in technology, to Melbourne. He has a bachelor of Arts majoring in Political Science from the University of Tasmania and a Graduate Diploma in Journalism from RMIT University.
