Tiesto Trance

Vinyl records outsell CDs for the first time since 1987

In a recently published report by RIAA (Recording Industry Association of America), Vinyl records outsold CD’s in the United States in 2022.  Steadily climbing back to prominence, Vinyl has seen year after year growth for the past 16 years consecutively. 

Consumers of music continue to show their admiration for superior audio quality over convenience and portability. This reversal in physical music sale dominance has not occurred since 1987. Analyzing the numbers, 33 million CDs were sold generating $483 million in sales (falling 18% from the year prior). Vinyl records sold more than 41 million units, generating $1.2 billion dollars in revenue. Vinyl sales made up 71% of all physical music sales in 2022. The resurgence in demand for Vinyl records can be attributed to its overall superior audio quality and the attraction of physical ownership. In a time where paying for access to intangible assets such as Music, Movies, and Podcasts dominate the market; the concept of owning a copy of media is longed for by many. This annual growth in demand is currently unable to be met as Vinyl pressing facilities are booked out with large orders. Demand is expected to continue to grow, which may further stress the already unsteady Vinyl manufacturing business.

The music industry as a whole is seeing yet another increase in revenue year over year, marking 2022 as the seventh consecutive annual increase (6% growth compared to 2021 with an estimated $15.9 billion in revenue). Streaming revenue still dominates the market, rising 7% since 2021 to $13.3 billion. The industry has come a long way since the days of pirated music destroying profits. It could be argued with so many social media platforms for artists to be discovered and the health of the music economy; there has never been a better time to be in the music industry than today.

Do you find yourself purchasing Vinyl records again? Do you believe physical music sales will continue to grow? Join the discussion on our Instagram @weraveyou to stay up to date on the latest technology out there for the modern-day music producer.

Image Credit: Rudgr.com

DJ/Producer from the United States. - University of the Arts, Philadelphia PA. Opened for Martin Garrix, Steve Aoki, Justin Bieber, and Lil Uzi Vert.

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