Streaming services overtake physical sales in US for the first time

The Recording Industry of America (RIAA) has announced that streaming services overtook physical sales in the US for the first time in 2014.

Websites including YouTube, Vevo, Spotify, and Pandora accounted for a total revenue of $1.87 billion, with physical sales totalling $1.85 billion. The report also states that revenue from streaming services grew by 29% in the same year.

Revenue for physical formats have been boosted by the highest sales of vinyl since 1987. US vinyl sales increased by 49% compared to the previous year, totalling $315 million in revenue.

Click here to read the full report on The RIAA website.