In 2017, physical sales from the likes of records, CDs and cassettes accounted for 17% of overall industry sales, while digital downloads took out a mere 15% of gross industry sales. Music streaming accounted for over 65% of the listening industry, with paid subscriptions looking to be the biggest industry growth driver, growing by more than 50% in a year and earning more than $4 billion for the first time ever.
While the report does suggest that physical sales are still in decline, with sales actually dropping 4% in 2017, digital downloads have definitely taken the biggest loss, reporting a 25% decrease. Could this spell the end of the iTunes era?
You can check out the full RIAA report here.