Newly released data from Billboard has revealed that, in the States at least, sales of vinyl are 33.3% down year-on-year (the actual breakdown: 34.9 million units in 2023 to just 23.3 million in 2024, this article here explores it in more depth).

 

Whilst this is US sales data, true, it's worth - unfortunately - the discussion because I imagine the same is going to be true of the UK when the time comes for the BPI to do its annual reporting in a matter of months time at the end of the year.

 

I shall preface what I'm about to say next by saying that I love physical formats, always have done, and still invest in them. My proper investment into vinyl started nearly 10 years ago (I did set up the original Vinyl Thread on here, after all). As an old school music lover I care deeply about the artistry and sanctity of hearing my favourite bands and albums on wax and listening to them is an experience I really treasure.

 

That said, and whilst I am not wishing to call schadenfreude on this situation, am I surprised at this? The honest answer is no. About two years ago, I saw this coming after that one Christmas in 2021, when there was that "bottleneck" situation with Adele, Ed Sheeran and ABBA all releasing their new albums and pressing plants having delays of months after other albums had been out in digital or CD but were awaiting a vinyl release.

 

I was beginning to find myself fatigued with the endless reissues of certain albums (I love Fleetwood Mac but "Rumours", fabulous album though it is, definitely does not need another pressing now. Ditto "Spice" by Spice Girls), and sheer number of coloured formats, especially by some more current artists in particular who had only just released a new album months or in some case weeks before it suddenly appeared in another new variant (watch where my eyes rest, Taylor Swift, and also now Charli Xcx). I have now inside the last two years made a point of only investing in albums or artists I actually genuinely love and want to own on vinyl, and actually jettisoned some of my earlier collection along the way. In many ways, I am finding the spark of true enjoyment of vinyl again, because if it's not I can't justify paying every part of £28+ for it.

 

But then you've got the various events - Record Store Day, HMV Vinyl Week and National Album Day - which increasingly seem to be hit and miss with release lists and seem to be more and more of an exercise in monopolising by the major labels, who have made what was the genuine revival of five, maybe six or seven years ago, into the situation we have on our hands now. Record Store Day this year, for instance, was the first one in years where I didn't get up silly o'clock early, got there for when my local one in Chelmsford opened at 8am and still got both the releases I wanted (Nerina Pallot and Sophie Ellis-Bextor, just FYI).

 

In almost all cases, some of these releases for these events are still lingering around weeks and months afterwards, undermining their exclusivity, and I am starting to find myself waiting for certain releases which are retailing at upwards of £34.99 to £50.99 until they hit the sale racks. You add a cost of living crisis on top of that and it's a no brainer as to why the sales are down overall.

 

Of course, consistent periods of growth don't go on forever, and I would like to be hopeful that the long term picture is more one of levelling itself out rather than a downright plunge back to the sales levels they were at in say, the 90s and 00s. What I do hope doesn't happen is that the price of vinyl is now so drastically undercut so as to leave it selling at a loss because that's equally not ideal.

I think lockdown really helped record sales. I got myself a turntable and it was something I could do to pass the time and really enjoy it... now I'm back in the rush of normal life again it just isn't a hobby that I have as much time for and I suspect it's been similar for many others.

 

Plus we all only have a finite amount of space so I'm sure that contributes to people slowing down. I'm going to sort through some of my impulse purchases from sales etc soon as I never play them and I may as well get rid and just keep the stuff I like.