Vinyl Sales Top CD Sales For The First Time Since 1986

  • Vinyl Sales Top CD Sales For The First Time Since 1986

Vinyl Sales Top CD Sales For The First Time Since 1986

First-half music industry revenues increased 5.6% to $5.7 billion with paid streaming subscriptions fueling the growith, more than offsetting revenue declines in other areas of the US recorded music market, according to the RIAA's annual mid-year report.

The last time vinyls were ever this popular, music groups like Mr. Mister and the Pet Shop Boys were chart-toppers, Newser reported.

According to that report, vinyl sales peaked in Australia in 1987 when the format was raking in $80 million a year. In the first half of 2020, vinyl revenue rose 4%, while CD revenue fell 48%, according to RIAA. But that has not stopped vinyl records out of creating a resurgence.

However, the boost in vinyl interest hasn't been enough to keep physical sales from dropping. Since 2005, sales for vinyl have grown consecutively.

It should be noted, at the same time, that sales of physical music media are still falling overall despite vinyl's popularity-in the first six months of 2020, total physical music sales decreased a steep 23%, to $376 million. Concerts and visits to music stores have all but disappeared.

The death knell of the compact disc has taken another inevitable step forward in 2020, as the once-dominant mode of purchasing music has fallen precipitously during quarantine as streaming as continued to surge. Music fans value the higher-fidelity sound produced by vinyl and record players, which contrasts with the compressed files offered by most digital services. Paid streaming service subscriptions, such as Spotify and Apple Music, increased by 24%, RIAAreported. Streaming, that comprises the earnings of compensated streaming, ad-supported loading and streaming radio, climbed 12percent to $4.8 billion through the first six weeks of 2020, RIAA discovered.

Streaming represented a whopping 85% of all recorded music revenue in the first half of the year with physical at 7%, downloads at 6% and synchs at 2%.