by Kaitlyn Radde, NPR, 2023-03-10
Vinyl albums outsold CDs last year for the first time since 1987, according to the Recording Industry Association of America's year-end report released Thursday.
It marked the 16th consecutive year of growth in vinyl, with 41 million albums sold — compared to 33 million CDs.
Streaming is still the biggest driver of the music industry's growth, making up 84% of recorded-music revenue, but physical music formats saw a remarkable resurgence in the past couple of years.
Vinyl revenue grew 17% and topped $1.2 billion last year, making up nearly three-quarters of the revenue brought in by physical music. At the same time, CD revenue fell 18% to $483 million, the RIAA said.
The pandemic led to a spike in demand for vinyl records, driven largely by younger buyers. Vinyl has become a major part of artists' marketing campaigns.
More on this on NPR's site where this article was first published.
photo by Nicolas Pelletier, at La Rama Records, Montreal, on January 16, 2023. All rights reserved.
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