The charts being posted here of LP sales are not including the dominant format of our time, streaming. This pie chart is from 2019:
We should expect downloads to reduce in revenue alongside CDs for pretty much the same reason: why buy something for a lot of money when you can borrow it for very little or nothing? Streaming isn't just pay for play, like Tidal, Spotify, Amazon Music, etc, it's also free [with annoying ads] on YouTube and other sites. And the sound quality of YouTube can vary from very good to terrible, although now that the majors are involved, YouTube sound quality often is as good as a CD or download. Here's another chart with a further breakdown of revenue of physical formats:
Yes, LP sales have overtaken [shrinking] CD sales. The portion of the pie devoted to streaming will only get bigger over time. But LPs now dominate sales of physical media. Of course, the "Music Industry Revenues" do not include sales of used physical formats. The wear factor of LPs is greater than with digital media, so they will be out of circulation faster than digital media. And used/independent music stores usually rent all their media, an open invitation for ripping. A CD has a far greater chance of returning to Rasputin's loving arms than a LP.
There's a pianola playing something nostalgic at Marlene Dietrich's cathouse in "Touch of Evil"---"It's so old, it's new", she says [before noting that they also have TV and show movies]. That's a lot of where the LP revival is at, so old, it's new. It's also more physically tangible than CDs or streaming. And there's many aspects of LPs that make them better collectables than CDs or other digital formats.
This all makes me think of Philip K Dick, quite the audiophile and LP enthusiast in his time. In his books, an older simulacrum would induce the kind of nostalgia that a newer, technically superior simulacrum doesn't. The greater the focus, clarity and lack of distortion of music playback, the more clearly the artificial nature of audio recording becomes. It's much like today's higher-def TVs showing all the low-level details of someone's skin, details previously glossed over now becoming distracting.