As the world continues to celebrate the mainstream resurgence of vinyl records, one of the most compelling reflections of the format’s relevance is that last year marked the first time since 1987 that vinyl record sales topped those of CDs, according to a new report.
In 2022, revenues for vinyl record sales grew 17% to $1.2 billion – the sixteenth consecutive year of growth – accounting for 71% of physical format revenues. All told, vinyl albums outpaced CD sales by nearly 10 million units (41 million sold vs 33 million.).
Last year, Paul McCartney made headlines when he shared that he enjoys ‘crate digging’ in Jamaica to search for new and rare vinyl. Closer to home, record store owner Ben Bell of Lion Vibes Records spoke about the passionate side of buying and selling records and how he evolved in the business.
Last year’s vinyl record sales demonstrate that vinyl is “cementing its role as a fixture of the modern music marketplace,” RIAA Chairman and CEO Mitch Glazier wrote in a post on Medium.
“Music lovers clearly can’t get enough of the high-quality sound and tangible connection to artists vinyl delivers,” Glazier said, “and labels have squarely met that demand with a steady stream of exclusives, special reissues, and beautifully crafted packages and discs.”
Blog Credit: https://www.vprecords.com/