According to Nielsen’s 2014 U.S. music report, single track and album downloads dropped by 12.5% and 9.4% respectively as music consumption continued to shift towards streaming services such as Spotify and Pandora. Global download revenues had declined for the first time in 2013 and the negative trend continued in 2014.
In total, Americans streamed more than 160 billion tracks in 2014, including audio streams as well as streams on video sites such as YouTube and VEVO. Compared to 2013, that’s a 54.5% increase of all streaming activity, meaning that the pace at which streaming is growing has accelerated compared to 2013, despite the larger base.
The only medium able to keep pace with streaming in terms of growth was the LP. Vinyl sales grew by 51.8%, continuing a surprise comeback although one thing should be noted though is at 9.2 million units, LPs only accounted for about 3.6% of total album sales in 2014.
Statistics thanks to Statista