Music News

First Half of 2016 Show Record Low Album Sales but Music Revenue Raises Anyway

First Half of 2016 Show Record Low Album Sales but Music Revenue Raises Anyway

The first six months of 2016 has shown a rise in streaming which has resulting in music revenue increasing but in turn has reduced album sales in the US.

Compared to the January-June 2015 period, album sales has fell to 100.3 million, which is a 13.6% drop. Interestingly enough, Drake’s latest album ‘Views’ which was released back in April is the only alum to sell over 1 million copies in the US so far this year.

On the over side of this number shift, 209 billion song songs were streamed in the first of 2016, a rise of 58.7% which has resulted in music revenue overall being raised by 8.9% to £1.5 billion. What is interesting to know is that vinyl sales has actually risen 11.4% to 6.2 million, with ‘Blackstar’ by David Bowie the best selling with 57,000 copies. The biggest decline is in digital sales, which is down 18% to 43.8 million, compared to CD sales which fell 11.6% to 40 million.

At this point in time there are no figures for UK industry exclusive statistics according to a spokesman for the British music industry body BPI. However, their spokesman told NME that physical sales are improving, with vinyl expected to sell over three million in 2016. The decline in CD buying has also slowed down.

Written by Tom Lafferty.

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