Record $8.8 billion revenues from streaming last year

The U.S. recorded music business generated $11.1 billion in revenue in 2019, a 13% year-over-year increase from the $9.8 billion it reached in 2018, and the fourth straight year of double-digit growth for the sector. The MBW Review reports streaming revenue grew 19.9% year-over-year to $8.8 billion from 2018's $7.4 billion, accounting for 79.5% of all revenue. On the other side, digital download sales revenue dipped below the $1 billion mark, falling 18% year-over-year to $856 million, CD sales fell 12% to $615 million in 2019, but vinyl rose a whopping 19% year-over-year to $504 million, the format's highest revenues in 32 years and its 14th straight year of growth.