The comeback of vinyl is nearly complete with sales of the black groovers within touching distance of the once-proud compact disc.
Figures just released by the RIAA (Recording Industry Association of America (opens in new tab)) show a 13 per cent increase for LPs and EPs, with US sales worth $224.1m in the first half of 2019 compared to $198.6m for the same period of 2018.
CD sales stayed virtually the same at $247.9m, up just 0.8 per cent, at a time when total revenues across the industry rose by 18 per cent to $5.4 billion in retail sales. If that growth rate retains that momentum, vinyl looks good to outsell CDs for the first time in over 30 years.
Interestingly, in terms of actual units, there’s a slightly different story. For all of vinyl’s 13 per cent sales rise, there was only a 6 per cent shift in the number of records actually sold. So, either Americans are buying more expensive LPs than before or the price of vinyl has gone up. The truth most likely lies somewhere in between.
Elsewhere in the report are figures that show paid subscriptions to streaming services proved the biggest climber across the US industry. A rise of 31 per cent to revenues of a mighty $3.3bn represents 62 per cent of total industry sales across the first six months of the year.
Overall then, one might interpret the data to say that there’s a growing desire for better quality listening, or perhaps that everyone’s sick of adverts. Once again, the truth most likely lies somewhere in between.
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