“The consumption of music is skyrocketing, but revenues for creators have not kept pace,” RIAA CEO Cary Sherman said in a statement. The Recording Industry Association of America (RIAA) has released its figures on the US music industry’s earnings for 2015, and while revenue is up overall, it has levelled criticism at “market distortions” that have seen vinyl sales generate more revenue than the ad-supported section of the streaming business.ĭespite an overall rise in revenue by 0.9% to $7 billion, the RIAA’s figures show that vinyl sales generated $416 million in 2015 compared to $385 million for free streams from sites like YouTube and Spotify. US music industry boss calls YouTube and Spotify “technology giants enriching themselves at the expense of music-makers.”
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