For the first time since 1987, vinyl overtook CD sales

Vinyl has stopped being a niche hobby for the older generation and hipsters, and is now experiencing a major revival in mainstream music. According to annual revenue report of the Recording Industry Association of America (RIAA), last year vinyl overtook CD sales in the US for the first time since 1987, with 41 million units sold compared to 33 million CDs sold.

According to a report by the RIAA, sales of vinyl records have grown steadily over the past 16 years and now account for 71% of all revenues from physical music formats. The growth figures here aren’t quite what they usually are either – while physical formats as a whole grew by 4% to earn $1.7 billion between 2021 and 2022, vinyl sales alone reached $1.2 billion, up 17% compared to the previous year. By comparison, CD sales are down 18% in 2022.

RIAA is not the first to claim that vinyl has overtaken CDs. The Entertainment Retailers Association (ERA) also reported this breakthrough earlier this year, although its numbers only covered UK sales.

There is a resurgence of interest in the format outside the UK and the US, with sales growth also recorded in Germany, Japan and South Korea.

The resurgence of vinyl is due to several factors. Many audiophiles claim that this format provides a more authentic sound compared to digital (although some claim that this is mostly a subjective opinion). Nostalgia also plays a role for those who lived through the golden age of vinyl, but younger generations also stimulate sales.

Taylor Swift became the most popular female artist last year, selling almost 1.7 million vinyl records – more than Harry Styles (719,000 sales) and The Beatles (553,000 sales) combined according to Luminate’s report on sales according to the results of the year.

The RIAA report also found that streaming music services such as Spotify and Apple Music will account for 84% of total music revenue in 2022, up 7% from last year year to a record $13.3 billion. However, digital download sales continue to decline. They fell 20% this year to just $495 million, after falling 12% in 2021.