Sunday, December 28, 2014

How we've paid for music from 1983 to today, in one gif

The Internet has radically changed the way we consume and purchase music, but it isn't the first game changer. In 30 years, the music industry has moved from vinyl singles, to cassettes, to CDs, to downloads, to music subscriptions. In this gif, created by Digital Music News, you can watch those revenues change.

gif of music industry change

revenue in the music industry broken down by year (Digital Music News)

What's most interesting about this graphic is that it shows just how diverse music consumption is in 2013. In 1983, music consumption was a 50/50 split between vinyl and cassettes. Ten years later, CDs cornered 94 percent of the market. But today, nothing has 50 percent of the market. People have more ways to buy music now than ever before. And apparently, some people are still paying money for ringtones, which is pretty absurd since you can literally make your own ringtone for free at any time. Or, you know, leave your phone on vibrate.

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