|Album sales drop in 2013 while digital streaming surges|
|Written by Jeremy Burns|
|Monday, 13 January 2014 12:48 PM America/New_York|
Overall album sales in 2013 declined to 415.3 million, a drop of 7.7% versus the previous year, according to a report by Nielsen Entertainment. Meanwhile, music streaming services such as Spotify, Vevo and Rhapsody grew to 118.1 billion streams, up 32% compared to 2012.
CDs suffered the steepest drop in album sales, with last year’s 165 million copies sold representing a 14.5% drop from 2012’s numbers. Digital album sales stayed steady at 118 million, the same as in 2012, while vinyl albums grew 33% to 6.1 million sold.
“Despite shifts in how music is consumed, we see continued growth in overall music consumption,” said David Bakula, senior vice president of industry insights for Nielsen Entertainment. “With more than 118 billion streams in 2013 reported by our data providers, which is the approximate revenue equivalent of 59 million albums purchased, the industry remains vibrant as consumption continues to change and expand.”