Do Vinyl Records Outshine CDs?
It’s back to the future, as vinyl audio sales have grown for the 16th year in a row, overtaking CDs for the first time since 1987, and digital downloads declined 20 per cent last year.
The Recording Industry Association of America say there were 41 million units of vinyl sold in the US last year, compared to 33 million CDs. Financially, vinyl sales raked in $1.2 billion, a 17 per cent increase, while CD sales dropped 18 per cent from 2022.
Taylor Swift was the year’s highest-selling artist in the US, with almost 1.7 million vinyl albums. In contrast, Harry Style sold 719,000 and The Beatles sold 553,000.
Still, before cheering the old school too loudly, Spotify and Apple accounted for 84 per cent of music revenue, growing seven percent on the previous year to a record high of 84 per cent of total music at $13.3 billion.
Originally Published By Luke Anismoff, 13 Mar 2023