According to spin.com and an annual report from the Recording Industry Association of America last year vinyl outsold CDs in the United States for the first time since 1987.
Vinyl sales have reached for 41 million units compared to the 33 million for CDs which comprises 71% of physical format revenue and a growing 17% from the previous year.
Last year Taylor Swift’s Midnights became the top-selling vinyl release with 945,000 copies sold. Harry Styles’s Harry’s House, Olivia Rodrigo’s Sour, Kendrick Lamar’s good kid, m.A.A.d city and Fleetwood Mac’s Rum-ours rounded out the top five.
In the article RIAA chairman/CEO Mitch Glazier expresses his joy about the increase in vinyl sales.
“2022 was an impressive year of sustained ‘growth-over-growth’ more than a decade after streaming’s explosion onto the music scene. Continuing that long run, subscription streaming revenues now make up two-thirds of the market with a record high $13.3 billion.”
Glazier adds: “This long and ongoing arc of success has only been possible thanks to the determined and creative work of record companies fighting to build a healthy streaming economy where artists and rights-holders get paid wherever and whenever their work is used.”
Last year the U.S. recorded music industry had an estimated retail value of $15.9 billion which is an all-time high including the 92 million paid streaming subscriptions.
Also the streaming accounted 84% of the total revenue and “continued to be the largest driver with paid subscriptions, ad-supported services, digital and customized radio, social media platforms, digital fitness apps, and others.”
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