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common sense
post Mar 24 2021, 11:48 PM
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From Absolute Radio online.

https://planetradio.co.uk/absolute-radio/mu...pbMmTmWwSysEWL4

Revenue from vinyl record sales is set to overtake CDs for the first time since 1987, the British Phonographic Industry has announced.

Thanks to strong sales of albums including AC/DC’s ‘Power Up’, Fleetwood Mac’s ‘Rumours’ and Queen’s ‘Greatest Hits’, vinyl revenues rose by a huge 30.5% in 2020 generating £86.5 million in revenue.

Campaigns such as LoveRecordStores, Record Store Day, National Album Day and HMV Vinyl Week all helped vinyl sales, while rising direct to consumer (D2C) sales of physical products also gave the format a boost.

In contrast, sales of compact discs fell by 18.5%, however the format still generated £115 million in revenue last year.

If sales of both vinyl and CDs continue at the current trajectory, the British Phonographic Industry predicts that vinyl will be the dominant physical format revenue-wise in 2021.

Geoff Taylor, Chief Executive BPI, BRIT Awards & Mercury Prize, said: “Vinyl’s exceptional performance despite retail lockdowns confirms its role as a long-term complement to music streaming. 2021 is likely to be the year in which revenues from LPs overtake those from CDs for the first time in well over three decades – since 1987.

“In addition to the immediacy and convenience of streaming, fans want to get closer to the artists they love by owning a tangible creation, and more and more of them are discovering how vinyl, or lovingly created CD box-sets, can enhance their experience of music.”


This post has been edited by common sense: Mar 24 2021, 11:49 PM
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AcerBen
post Mar 25 2021, 12:56 AM
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I notice this particular article doesn't even bother to mention the copies sold. 4.8 million vinyl compared to 16 million CDs.

Plus revenue might be up 30% but copies only up 10%.

I don't like this narrative that everyone's buying vinyl and the CD is going to die. There's room for both - and the music industry ought to be doing more to save the CD.
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Lo-Fi Version Time is now: 24th September 2021 - 12:56 PM