Music Industry Revenue Up in 2017, Digital Album Sales Succumb to Physical

Vinyl Bay 777, Long Island’s music outlet, takes a brief look at RIAA’s 2017 Year-End findings

The Recording Industry Association of America’s year-end Revenue Statistics came out last week, detailing the state of music sales in the United States in 2017. Indicating that the industry as a whole has grown in revenue from the previous year, even though albums sales continue to lag.

According to the RIAA, music industry revenue is at the highest it’s been in a decade. At an estimated $8.7 billion retail value and $5.9 billon wholesale value, the industry grew 16.5% and 12.6%, respectively, over 2016. The chart report also marks that this is the second year in a row that revenues grew, the first time since 1999 that this has happened.

The biggest platform for this growth was streaming services. Making up 65% of revenue in 2017, paid subscriptions, streaming radio and ad-supported on-demand services made an astounding 43% leap from 2016. Paid subscriptions in particular made for much of that domination, growing 63% and making up 47% of the music industry’s revenue, approximately $4 billion.

With the growth of streaming, sales across the board have been on the decline. The RIAA found that digital sales were hit the hardest, dropping 25% over all in 2017, making up $1.3 billion in revenue. This goes for both singles and albums, which individually declined 25% and 24%, respectively. The RIAA remarked in the report that this is the first time since 2011 that physical format revenue exceeded that of digital.

In contrast, the physical album sales decline wasn’t as drastic as it was in years past. In 2017 there was only a 4% decline in value over the last year, making up $1.5 billion of the industry’s revenue. The decline is slower than it has been in previous years, thanks mostly to the vinyl resurgence, up 10% in 2017, as CD shipments once again fell, this time by 6%.

Earlier this year, Buzzangle and Nielsen released their year-end, coming to many of the same conclusions as the RIAA. Both had reported that there was an increase in music consumption in 2017 sparked by an all-time high in streaming. They also picked up on the drop in digital downloads and less-drastic decline of physical sales.

According to the RIAA’s 2017 Revenue Statistics, the music industry has been picking up a little in the last couple of years. Revenue is at its highest in a decade, thanks to streaming’s increased foothold on the industry, now making up the largest part of the music industry’s revenue. Even though physical and digital sales continue to struggle, it’s slowed pace of decline and the increase in vinyl sales come as a shimmer of hope for physical music lovers.

---

Physical music continues to live on at Vinyl Bay 777. Long Island’s music outlet has a wide selection of new and used vinyl records, CDs, cassettes, music DVDs and memorabilia to choose from. We have thousands of titles in a variety of genres sure to satisfy all music lovers. Browse our growing selection in store at our Plainview location or shop online at vinylbay777.com to see what’s new at Vinyl Bay 777 today!

Year in Review: Vinyl Bay 777’s Top Songs of 2017

Sunday night marks the end of 2017. This is usually a time to reflect on all the good and bad that has happened over the last year. That also goes for music, as this is also a great time to look back at all the great tunes released in 2017.

A lot happened in the world of music in 2017. Ed Sheeran, Kesha, Eminem, Haim and Taylor Swift, among others, all had highly-anticipated new releases that had everyone talking all year long. Artists like Portugal. The Man and St. Vincent were able to attain mainstream success.

Vinyl Bay 777, Long Island’s music outlet, would like to take this opportunity to look back at some of our own favorite songs from 2017. Here are eight that grabbed our attention throughout the year, and in some cases launched the artist into the mainstream.

1.       Portugal. The Man, “Feel It Still”: Portugal. The Man had one of the biggest songs of the year with “Feel It Still,” the second single from their eighth album, ‘Woodstock.’ Aided by its placement in Vitamin Water’s television commercials (which are still being aired months later), the song has this infectious groove that sucks you in and doesn’t let go. Singer John Gorley’s falsetto is intriguing too, as if trying to emulate the voice of the song’s character, not just tell her story. The band released two other singles from the album, and while “Live in the Moment” also became popular, it never had the reach that “Feel It Still” did. (video)

2.       Neck Deep, “In Bloom”: Neck Deep really broke out in 2017 with their single “In Bloom.” Set to a catchy melody with a solid, memorable hook in the chorus, “In Bloom” is a reflective track about self-improvement. The song’s success helped the band’s third album, ‘The Peace and the Panic,’ become their best-selling to date. (video)

3.       Ed Sheeran, “Shape of You”: Ed Sheeran’s return in 2017 with his third album, ‘÷,’ was massive. Since the album’s release in March, you couldn’t get away from him (not that you would necessarily want to). Out of all the singles released from the album, “Shape of You” arguably had the most impact this year. With its dance-club beat and catchy melody, it became the most streamed song of the year on Spotify and spent a fifth of the year on the Billboard Hot 100 chart. (video)

4.       St. Vincent, “Los Ageless”: St. Vincent had a big year in 2017. Her new album, ‘Masseduction,’ reached number 10 on the Billboard 200, her highest placement on the chart yet. The album’s popularity was preceded by three outstanding, unique singles. We’ve chosen “Los Ageless” for this list because of its memorable 80s new wave/synth-pop vibe. (video)

5.       P!nk, “What About Us”: P!nk has never been one to shy away from wearing her heart on her sleeve in her music. Such is evidenced in her bold, political new album, ‘Beautiful Trauma,’ and especially its first single, “What About Us.” The song is a passionate plea for answers in a world that feels like it is swallowing us whole. It helps that this plea is backed by a beautiful melody and biting lyrics. (video)

6.       Kesha, “Praying”: Kesha has been through a lot over the last few years which led to a long drought in music from the boisterous singer. That changed in 2017 when she released ‘Rainbow’ and it’s strong lead single “Praying.” The song debuted a new, more mature side of Kesha that we hadn’t heard previously, one that shows off her vocal abilities and passion, proving that she doesn’t need to seem drunk to make a good song. (video)

7.       Paramore, “Hard Times”: If Paramore’s self-titled 2013 album broke the band into the mainstream, 2017’s ‘After Laughter’ proves that that is where they belong. The album moves the band further towards 80s-inspired new wave, synth-pop and funk, as evidenced on lead single “Hard Times.” The song is an upbeat track about falling on “hard times” and feeling useless, a common theme among the songs on the new album. (video)

8.       Linkin Park, “Heavy”: Linkin Park went in a completely different direction with 2017’s ‘One More Light.’ Known for their mixture of hip-hop beats and melodic rock, the band focused heavily on the melodic part of their sound. The change was very polarizing, but it arguably led to some of their most poignant work. “Heavy,” the album’s lead single, is one of the band’s most emotional (behind the album’s title single), as well as one of their strongest lyrically and melodically. The song took them out of this box and proved that they could be more than just a nu-metal band. (video)

Between all the highly-anticipated albums that met their hype to the singles that took the world by storm, 2017 was a year filled with great music. Take a look back by checking out our favorite songs of the year above and let us know what songs you loved in 2017.

---

Pick up music from these artists and more at Long Island’s favorite new independent record shop, Vinyl Bay 777. We have thousands of titles to choose from in a variety of genres. Check out our wide selection of new and used vinyl records, CDs, cassettes, music DVDs and memorabilia in store at our Plainview location or shop online at vinylbay777.com. Whether you’re looking to ring in the New Year with something new or with one of the classics, we have you covered. And with more titles being added to our selection all the time, you never know what you might find at Vinyl Bay 777.