Vinyl expected to outsell CDs for the first time in over 30 years, predicts RIAA report
In this day and age, almost everyone is using a music streaming service. It’s rare that a fan goes out and purchases a physical copy of an album unless there is a commemorative element to it. However, a new report from Recording Industry Association of America (RIAA) shows that vinyl sales are set to soar past CD sales for the first time in over 30 years. As more music fans begin investing in retro record players, more and more artists are putting out a vinyl version of their albums in addition to their CD and DSP releases.
The RIAA’s recently released mid-year report showed that CD sales continue to nosedive, while vinyl sales are rising. The report shows that vinyl records sales reached $224.1 million while CD sales sat around $247.9 million. CDs are still more profitable, but it’s a trend that is bound to meet in the middle soon. While those numbers seem large and impressive, CD and vinyl sales only make up 4% of industry revenue with streaming services come in at 62%. Vinyl sales make up a third of revenue for physical releases.
So, why are fans buying vinyl? Record players are few and far between and are usually only available for purchase online or in record stores. Since so few artists do commemorative versions of physical CDs, it’s possible that vinyl copies of albums are the new keepsake for superfans. It’s a way for fans to show their love and ultimate support, plus, vinyls are beautiful works of art.
The uprising of vinyl sales could also mean a change in how we experience live music. DJs used to spin actual records, so the rise of the vinyl sales could possibly influence how fans experience live mixing. How this will play into the live music arena? The EDM world is an everchanging industry so we’ll have to wait and see.
H/T: Rolling Stone.
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