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Study: Streaming Music Services Are Now More Popular Than Video

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Study: Streaming Music Services Are Now More Popular Than Video

For the first time ever, U.S. consumers are listening to streaming music services more than they are streaming video, according to a report by BuzzAngle.

The report stated that streaming music services like Apple Inc. (NASDAQ: AAPL)'s Apple Music and Spotify delivered 114 billion streams from the beginning of the year through the end of June. By comparison, there were 95 billion video streams on sites like Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)'s YouTube and Vevo.

BuzzAngle noted the total number of audio streams surged 107.8 percent from a year ago, while video streams only saw an uptick of 23.1 percent over the same period.

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Drake's "Views" was the most requested music album and was streamed 1.5 billion times since it was released in April. Adele's "25" album was only made available for streaming on June 24 and was streamed 168 million times in the first six days following its release.

Finally, an interesting finding from the report as the "once presumed dead" vinyl LP category benefited from a sales growth of 17 percent to 3.1 million at a time when CD sales fell 11 percent and digital sales of albums fell 17 percent.

 

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Posted-In: Adele Apple Music BuzzAngle DrakeTech Media Trading Ideas General Best of Benzinga