Vinyl Records Now Outsell CDs
While music streaming continues to rule, with sales surpassing $10 billion for the first time last year, 2022 also marked the 16th year in a straight that vinyl album sales increased.
You're not alone if you've been expanding your vinyl library. In the US, vinyl albums outsold CDs in terms of units for the first time since 1987.
The Recording Industry Association of America (RIAA) reports that vinyl records sold 41 million units in 2022 as opposed to 33 million units for CDs in its annual report.
Vinyl albums have grown in popularity for a while; the RIAA reports that 2022 was the 16th year in a row that vinyl album sales increased.
Although vinyl records may appear like a dated technology, they are known for producing a warmer sound than CDs and online streaming. Although a single vinyl album can cost upwards of $30, they also give customers the impression that they are physically in possession of the music.
Around 2020, when many US consumers were working and learning at home due to the COVID-19 pandemic, vinyl records started to eclipse CDs. For the first time since 1986, vinyl record sales revenue surpassed CD sales income in the same year.
The RIAA highlights in its most recent report that physical media sales have increased significantly since many physical music outlets reopened in 2021. Revenues from all physical music sales in 2022 totaled $1.7 billion, an increase of 4% from the previous year. The RIAA continues, "Revenues from vinyl records increased 17% to $1.2 billion.