Despite the variety of platforms for digital music, through digital storefronts or streaming services, there still seems to be a soft spot when it comes to physical formats. While we’re not seeing cassette tapes being revived anytime soon, or 8-track tapes, vinyl seems to be gaining in popularity once again among music lovers.
According to the latest numbers by the Recording Industry Association of America, for the first time since the 80s, vinyl has managed to outsell CDs. Although, CD sales have been low ever since digital formats were introduced, to see an even older format revive and gain steam in this day and age is pretty impressive. People are loving vinyl and it is making a comeback.
According to the RIAA, vinyl album sales rose by 4% from the first half of 2019 and now account for $232 million in sales, which accounts for more than half of total physical sales which fell to $376 million. Of course, vinyl will not replace digital music anytime soon, but it does seem to justify how some businesses are getting back into selling vinyl.
Streaming of course is leading the race as it accounted for 85% of recorded music revenue at a whopping $4.8 billion. I wonder what vinyl will sell next year.