The medium in which we consume our music has evolved and changed over the years, where we would listen to music on vinyl records, cassette tapes, CDs, and so on. Digital music has also been extremely popular due to our smartphones and computers, but even then on the digital front, we’re seeing a shift.
According to a tweet by the RIAA, they have revealed the music streaming is now the dominant form of music consumption in the US, where it accounts for 80% of the music market. This is versus back in 2010, about 9-10 years ago, where streaming only accounted for a meager 7%, where physical medium and digital downloads still accounted for the majority.
However, the RIAA’s stats reveal that music streaming now accounts for 80% where physical and digital downloads are both at 9% each. We doubt that music streaming will ever hit 100% due to the fact that there are still plenty of people out there who prefer their music in physical mediums due to it offering a “warmer” sound.
— RIAA (@RIAA) December 30, 2019
It also explains how vinyl is experiencing a comeback where back in 2018, the RIAA claimed that CDs and vinyls are actually outselling digital downloads. We’ve also seen how in some countries, factories are being opened again to produce vinyl records.