Vinyl record sales continue to rise amid music streaming’s dominance

[HighImpactAV]

"The Recording Industry of America said in an annual report that sales of vinyl records rose for the 18th straight year in the US to $1.4 billion — the highest revenue for that format since 1984, when CDs started to emerge."

 

[Soniclife]

I think that CD is no longer shrinking fast is more interesting, it looked to be in a death spiral a few years ago. The vinyl thing will be here for a while, until people cannot afford it and a steaming service, then what they choose will be telling.

 

[sq225917]

Some people don't want streaming, I prefer to own my music, vinyl, cd or digital downloads. My purchases are probably 50, 40, 10, downloads, vinyl cd. I still buy old fashioned paper books too.

 

[Soandso]

The chart's total US physical media's 2022 US$1.7 billion in sales comparison with in 2024 the chart's US$2 billion is essentially equivalent in purchasing power to US$1.87 billion in sales in 2024. So in real terms total US physical media purchases went up in real terms about US$0.13 billion in sales; better written as US$130 million in increased US physical media purchases for 2024. Cited we see the 2024 amount of the US$2 billion being for vinyl records $1.4 billion; better written as 70% of the total 2024 physical media sales were for vinyl. But we don't see the exact 2022 US$ vinyl sales figure to compare with 2024 vinyl ciphers.

 

[Timcognito]

I would like to see the units sold numbers. Lps seem to have different market, as streaming and CDs are both digital and one is those is relatively free and other uses relatively inexpensive playback and copying equipment. Would also like a estimate of used units for both as CDs are copied and resold illegally.

 

[Soandso]

I would like to see the units sold numbers. Lps seem to have different market, as streaming and CDs are both digital and one is those is relatively free and other uses relatively inexpensive playback and copying equipment. Would also like a estimate of used units for both as CDs are copied and resold illegally.
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If compare a hypothetical 1970 rock and roll vinyl LP costing (say) US$3.50 that'd be equivalent to US$28.60 in 2024 dollars. Back in 1970 the US absolute minimum wage workers saving to buy an LP were earning U$1.45 per hour before paycheck deductions. In 2024 the absolute minimum US wage was US$7.50 per hour before paycheck deductions.

The 1970 minimum wage worker had a better deal for records. In 1970 it only took 2.5 hours (before deductions) of work to earn enough to buy a vinyl album ($3.50 average price). While the 2024 minimum wage worker had to put in at least 3.8 hours to buy a vinyl LP at $28.60 (2024 price), and 6.9 hours to buy one costing $50 (2024 price). [I started working in the 1960s full time at an even lower US minimum wage and was buying vinyl Lps, but reference prices elude me.]

 

[Gitfiddle]

There is some nostalgia from childhood of getting a new CD from Hastings or whatever else store that sells used/new music back in the 90s and 2000s and popping it into a portable CD player and turning on the n64 to play some Zelda game.

I'm considered fairly young millennial and should be music streaming's prime target. I hate it. It's so much more satisfying to buy a CD, RIP it, and add the physical copy to my shelf of CD's (okay I'll be honest I have stacks of CD's in three different rooms and its a giant mess) then open up Music Bee and never worry about advertisements, updates, pop ups, UI changes, and monthly subscriptions. I'd definitely consider myself a CD guy. I only stream music to find new CD's to buy.

I also know some people where music is really like a ritual for them after work. Light a candle, pick a vinyl, silence their phone, and relax for the length of the album.

 

[PristineSound]

There's an existing thread on this topic:

Can anyone explain the vinyl renaissance?

Please note: due to lack of oversight, this thread has been locked. More current discussion of vinyl playback, can be found at the following thread… https://www.audiosciencereview.com/forum/index.php?threads/the-courteous-vinyl-playback-discussion.34143/post-1192239 I'm a member of a couple of...

www.audiosciencereview.com

I think for the new younger crowd they just want an experience to go with the music, there is novelty in it.

 

[DVinylfan]

The vinyl thing will be here for a while, until people cannot afford it

I think for the new younger crowd they just want an experience to go with the music, there is novelty in it.

Indisputably digital measures better than vinyl.
But as scientists, or at least adherents to scientific methods, we are here to gather evidence.
And the evidence suggests strongly vinyl is going nowhere.
Not because it's a fad, or because the foolishness of youth, but because something else is at work in influencing the choices people make about their music listening media, something we have yet to discover, something we have yet to measure.
But this unsolved problem is no prescription for snake oil.
Stick with ASR and one day all the answers will become clear!

 

[DVDdoug]

About the price....

Vinyl albums have gone up and CDs are more expensive that records were in the analog days. But an MP3 download is about a dollar and that's about the same price I remember paying for 45 RPM singles!

Concerts have gone up a LOT too. I didn't go to "big concerts" but I've seen images of tickets to see The Beatles, and they were around $5. Around the same price of an album.

 

[Audiofire]

Vinyl records are interesting to collect for rarity and have larger artwork than CDs. Record sleeves can be more fun to handle than a little booklet. Vinyl can last longer than CDs, unless playback wear degrades the vinyl grooves too much, but vinyl is not really about sound quality to me.

 

[OldHvyMec]

Every year, HORDS of records come on the market from people kicking the bucket, and will continue. I knew of just one storage in Martinez, CA, that had at least 10 PODS full of records. I'll bet they are still there and growing.

Regards

 

[RickS]

I have 2 turntables and 3 adult children (ages 30-38, all college grads and professionals).

All of them have streaming services and not one has have ever asked about a turntable for their home use. Ok, its a small sample size, but think what we really need is some demographics on vinyl sales.

 

[Snoopy]

Im big time into roon with my own ripped files and Qobuz or Tidal to supplement my library.. but recently I had a few issues with „this track or that track is currently not available“ from streaming services..

That’s when I get out my LPs and I’m glad I got something that will just work. No need for a server , streaming, internet etc..

Plenty of used LPs in great condition out there that cost only a few bucks.

 

[MattHooper]

I have 2 turntables and 3 adult children (ages 30-38, all college grads and professionals).

All of them have streaming services and not one has have ever asked about a turntable for their home use. Ok, its a small sample size, but think what we really need is some demographics on vinyl sales.

I have a different sort of experience.

Before the vinyl revival - and I got back into vinyl somewhere around 2016 - I never heard anybody talk about records. Like zero. (with the exception of an audiophile friend who was all about vinyl for as long as I can remember).

Once it got rolling one of my sons started to buy records and play them sometimes on my system. But more surprising is the sheer amount of people I knew who suddenly had turntables. So for instance when friends of both my sons would come over and spot my turntable, it became common for them to say “ yeah we have a turntable now too.” It wasn’t uncommon for other guests to remark that they had a turntable now.

Now many more of my friends have a turntable. I was even visiting some folks who I thought would be the very last people to own a turntable, and even they had picked up a used one recently that they say the family is enjoying.

Not to mention the fact that the number of record stores around me in my city just exploded. It went from one dusty old record store on the local main strip near me, do something like eight or nine within walking distance, and tons more in the city. The biggest record store downtown is constantly full of young people (and older folks like myself).

 

[RickS]

As I said, would be interesting to see some demographics. By the time my kids were old enough, CDs were the primary medium. So no basis for nostalgia over vinyl for them. You do see Hollywood pushing some nostalgia for turntables. But miraculously, those turntables rarely click, pop, skip or have feedback or rumble.

I still have kept some of my better vinyl and still like to see it spin, but it is getting used less and less. Once I service my old Dual stacker, will be selling. A family friend asked about my (barely used) AT-PL120 but, even with a very fair price, he did not bite.

 

[wadude]

It really is about the music, not so much the medium.

 

[Groove01]

I have 2 turntables and 3 adult children (ages 30-38, all college grads and professionals).

All of them have streaming services and not one has have ever asked about a turntable for their home use. Ok, it’s a small sample size, but think what we really need is some demographics on vinyl sales.

Interestingly, my daughter is 16 and asked for a turntable for her 15th birthday. She steals my LP’s - lol.

I found a screaming good deal on a new Pro-Ject Carbon Debut Esprit and had enough spare gear around to set her up with a proper little room system.

She and most of her friends buy vinyl.

 

[MatrixS2000]

As I said, would be interesting to see some demographics.

Go to a record store. The last time I did that, I was the oldest person in there. Most were 20s-30s, I’m in my 50s.

 

[RickS]

Following up on the demographics, the most comprehensive free info I found was from imarcgroup.com study (dated 2023). Some key bullets indicate a very non-traditional market versus the past. A few key bullets:

1. Asia Pacific exhibits a clear (vinyl market) dominance
2. Single (7 inch) vinyl records dominate the market (not albums)
3. Colored (rather than black vinyl) dominates the market

This certainly shattered my notion of the more simplistic hypothesis that the millennials were looking for a more intimate music experience (which may still be true but more of a niche). The study does help explain an added growth component compared to the past. The "vinyl resurgence" is not just a bunch of North Americans buying black vinyl albums.