The Recording Industry Association of America released the 2015 revenue statistics that shows that vinyl sales generated $416 million in 2015, while the total from streaming at YouTube, SoundCloud and Spotify was $385 million, which is about 32% of growth for vinyl.
The RIAA CEO Cary Sherman has attacked YouTube and Spotify in his recent statement:
“The consumption of music is skyrocketing, but revenues for creators have not kept pace,” he says. “This is why we, and so many of our music community brethren, feel that some technology giants have been enriching themselves at the expense of the people who actually create the music.”
This year’s Record Store Day which will happen on April 16th will gather participants from all over the world to celebrate music and Vinyl. And there is a great reason to.