2016 has been a great year for music sales, but why?
Forget the vinyl resurgence, subscription streaming services were the real winners in 2016. According to BuzzAngle Music, 2016 signaled the best year on record for paid streaming, growing 124% from the previous year and accounting for over three-quarters of the year’s total streams. The stunning figures significantly dwarf a brilliant year for vinyl sales, which also recorded its best sales since 1991. The figures indicate that after a long struggle to convince people to pay for music in an era of free downloads, the music industry has finally cracked the formula: people either want physical ownership or they want the convenience of streaming just about anything on demand. Who would have thought?