Vinyl Record Sales Surges And Music Events Go Viral, Thanks To Rising Popularity Of Online Music Streaming

Downloads of music clips are down, and sales of music compact discs (CDs) are dropping—both of which are casualties of the battle for the hearts and minds of millions of music buffs who are more than willing to pay a few bucks to hear their favorite tunes. And the winner of this particular round happens to be online music streaming, which (to those who might have been living in a cave the past year) plays a cell device user’s favorite songs at a few simple clicks.

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On-Demand Music Content Now Stands At The Center Of US Recording Industry

While some artists see streaming as a thorn in the marketing side of music business, the recording industry itself can look at it as its future and saving grace.

Indeed, according to the Recording Industry Association of America (RIAA), the country’s recording industry made more money last year at $7.026 billion from just $6.951 billion in 2014. The 0.09 percent increase was brought about mostly by sales coming from music streaming across various platforms such as Spotify, Tidal, Pandora, and iTunes.

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Music Videos Have Leaped From Entertainment To Experience, Thanks To Social Media

The talent-hunting reality shows may have started it, but music videos in general, and social media sites, YouTube in particular, have transformed and rebranded music and their artists from entertainment to a lifestyle experience. The interactive component in shows like American Idol, America’s Got Talent, The Voice, and their various versions have given their millions of viewers part of the power to decide who wins and who loses.

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Spotify Remains King, But Until When?

Spotify’s acquisition of Irish startup Soundwave just goes to show that it remains the ringleader of the music streaming niche. The company is fast-expanding amid the growing competition in the sector, seemingly leaving competitors Tidal, Rdio, and Pandora behind its shadows.

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