The Rise of Vinyl Continues...
One of the more surprising comebacks of the digital age is the popularity of vinyl.
In 2020, more than one million vinyl records were sold in Australia, an increase from the previous year when around 885 thousand vinyl records were sold. The sale of vinyl has been rising rapidly in Australia in the past five years, tripling since 2015 (Statista, 2021).
In the United States vinyl album sales have grown for the 17th consecutive year, increasing more than 48-fold compared to 2006 when the vinyl comeback first started (Statista, 2023).
Vinyl records only account for about 5% of equivalent music consumption, however, it’s interesting to witness the comeback of a hundred-year-old technology in today's fast-paced digital age.
Whilst the digital age is ever-changing and streaming services take over, it appears that consumers still hold value in physical goods. Vinyl records have become more than a form of listening to tunes, but rather a collector's item. Interestingly, only 50% of vinyl buyers own a record player.
At this point, it’s much more than just a nostalgia boom. The vinyl comeback has brought the excitement of owning physical vinyl to a new generation of music lovers.
May the rise of vinyl continue...