R&B/Hip-Hop Album Sales Are Down 19.1 Percent
SoundScan has released its mid-year report and unsurprisingly, album sales are down, streaming music equivalents have nearly doubled and vinyl sales continue to increase. R&B/hip-hop specifically is down 19.1% to 18.4 million units.
“With On-Demand streams surpassing 70 billion songs in the first six months of 2014, streaming continues to be an increasingly significant portion of the music industry,” says David Bakula, SVP of Nielsen Entertainment. “Streaming’s 42% year-over-year growth and Vinyl LP’s 40% increase over last year’s record-setting pace shows interest in buying and consuming music continues to be robust, with two very distinct segments of the industry expanding substantially.”
When looking at album sales, R&B/hip-hop ranks as the second largest genre in U.S. with 15.3% of total sales behind rock (34.7%) For a full look at the numbers, be sure to check the report over at Billboard.