In the event you’ve been increase your vinyl assortment, you are not alone. For the primary time since 1987, vinyl albums outsold CDs by items within the US.
In its annual report for 2022, the Recording Business Affiliation of America (RIAA) says vinyl data offered 41 million items versus 33 million items for CDs.
Curiosity in vinyl data has been constructing for a while; 2022 marked the sixteenth consecutive yr of income progress for vinyl albums, in line with RIAA.
Vinyl might appear to be an antiquated expertise, however the data are recognized for creating a hotter sound over CDs and digital music streaming. In addition they give customers the sensation of bodily proudly owning the music, though a single vinyl album can price round $30 or extra.
Vinyl data started to overshadow CDs again in 2020, throughout the COVID-19 pandemic, when many US customers have been working and learning at residence. That very same yr, income from vinyl report gross sales beat gross sales from CDs for the primary time since 1986, in line with the RIAA.
Within the affiliation’s latest report, the RIAA notes that gross sales of bodily media have seen a resurgence since 2021 when many bodily music shops reopened. For 2022, revenues for whole bodily music gross sales reached $1.7 billion, which was up 4% versus the prior yr. “Revenues from vinyl data grew 17% to $1.2 billion,” the RIAA provides.
Nonetheless, curiosity in bodily media didn’t translate to CDs in 2022. Income from CDs dropped 18% yr over yr to $483 million, in line with the RIAA, which provides that “revenues from digitally downloaded music continued to say no in 2022, down 20% to $495 million.”
Total, bodily media gross sales solely make up 11% of the US music market. Digital music streaming continues to dominate, claiming 83% of the income. The RIAA provides: “Revenues from paid subscription providers grew 8% to $10.2 billion in 2022, exceeding $10 billion yearly for the primary time.” In the meantime, the variety of paid subscriptions to music streaming providers within the US reached 92 million, up from 84 million in 2021.