A recently released Recording Industry Association of America (RIAA) report revealed physical music sales surpassed digital downloads in 2017 for the first time since 2011. The difference is only 2 percent, but it is still significant. It is an indicator of the two factors that killed digital downloading: the rise of vinyl and the dominance of streaming.
The most interesting part about this new data is total physical sales are dropping; they are just dropping slower than digital’s current nosedive into oblivion (which fell 25 percent last year). Providing that critical sales push was vinyl’s 10 percent growth, a trend that has only been gaining speed in recent years.
Vinyl’s rise should be directly related to the same events that initiated digital downloading’s fall from grace. Ten years ago, iTunes was king. For $0.99 a song, you could pick and choose your favorite tracks from albums and create unique playlists composed of only hit singles. However, when Apple increased the price of a downloaded song to $1.29, everything changed. That amount apparently crossed the line in the mind of the consumer, and digital downloading has only continued to drown as superior alternatives arise.
The first superior alternative was the revival of vinyl. As the world becomes more and more digitized, we face the odd dichotomy of acquiring more stuff more easily, yet in the end, having fewer physical things. Now, all of our photos, books, music and movies can be ours without physically owning them. Our libraries of entertainment are now intangible, stored on hard drives and clouds across the country. Such abstract ownership makes content much more accessible, but deprives consumers of the satisfaction of actually owning a physical item.
When I was a sophomore in high school, before I even had my first record player, I bought a vinyl copy of the Strokes’ album “Is This It.” Even though I lacked the means to actually listen to it, I still jumped at the opportunity to buy the vinyl. Why? Because I loved that album so much that I wanted to physically own it. I wanted to touch it, proudly display it on my shelf and have a physical copy of something that I adored.
Before long, I got a record player and started assembling a record collection, sparking a new hobby and source of enjoyment in my life. This element of having a personal collection is why the vinyl industry is rising; people like to physically look at their music collection, seeing the stacks of their favorite albums get a little higher each year. We are physical creatures who value ownership above most things. The satisfaction and pride that comes from a music library you can touch beats showing your friends your “digital library.”
The second and final nail in digital downloading’s coffin is now the future of music consumption: streaming. About two-thirds of U.S. music industry revenues last year came from streaming, and it is showing no signs of stopping. Streaming grew 43 percent from 2016, and there are now more than 35.3 million paid music subscriptions in the U.S. alone.
Who in their right mind would pay $1.29 to download one song to own it, when you can pay $8 a month and listen to almost every song ever recorded? The innovative business model for streaming simply cannot be matched; it provides consumers with more of what they want and for significantly less. Can it get any better than that?
From where we are right now, it is hard to see anything surpassing streaming from its throne. That being said, people probably said the same thing about the fax machine and pagers. Even better, I wonder if people thought the same thing about digital downloading 10 years ago? The music industry will only become more innovative and revolutionary over time.
With streaming on top for the foreseeable future, it is safe to say that digital downloading is dead, but how are we to know if streaming is not due for the same fate?
Andrew Hall is a UF management senior. His column focuses on entertainment.