The days of vinyl records are over. If you thought CDs had taken over, you’d be wrong, according to some reports coming out of America. For the first time since 1987, vinyl records have outsold compact discs (CDs) in the US, according to a recent report by the Wall Street Journal (WSJ). There are also indications that things including vinyl records are coming back into the trend.
According to the Recording Industry Association of America (RIAA), 41 million albums will be sold on vinyl records in 2022, compared to 33 million CDs. Revenue from vinyl records rose 17% to $1.2 billion last year, marking the 16th consecutive year of growth. In contrast, revenue from CD sales fell 18% last year to $483 million.
Vinyl records have not only gained popularity through mainstream music, but have also made a presence in popular video games such as the recent release of God of Ragnarok. A Collector’s Edition and Jotnar Edition of the game were shipped to consumers with a neon green vinyl record.
Reports also indicated a significant drop in revenue from album and single-track downloads. “It’s been more than ten years since streaming hit the music scene, yet 2022 was an amazing year with growth upon growth,” said RIAA CEO Mitch Glazier.
The music market will be watching to see if this trend will continue and physical media will make a comeback, or if, like most trends, it will fizzle out when the initial excitement wears off.
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