The Music Industry Is Finally Turning Around!

The Recording Industry Association of America just released its 2011 sales figures yesterday (PDF here), and there was a surprising bit of good news in them.

Total U.S. music sales actually grew for the first time since 2004. They were up 0.2%, just topping $7 billion.

The reason: digital sales were up 9.2% during the year, and physical sales (mostly CDs) dropped only 7.7%, which is smaller than in recent years.

Digital made up more than half of revenues for the first time ever.

There were some other interesting notes as well:

  • Subscription service revenue is growing. The take from services like Spotify and Rhapsody was up almost 14% to $241 million. Total subscribers grew from 1.5 million to 1.8 million.
  • Album downloads are growing like crazy — unit sales (105 million) and revenue ($1 billion) were both up over 20%.
  • CDs are still the biggest seller by far, with more than 240 million sold for more than $3.1 billion.
  • People spent more than $100 million on vinyl records last year. Unit sales and revenues were both up over 30%.

Here’s the full set of stats:

RIAA sales stats 2011

Photo: Recording Industry Association Of America


Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.