Here is my latest update looking at physical music sales. Physical sales outperformed streaming in 2021 and there has also been an increase in independent music shops!
Watch the video above for the full report
BPI: recorded music trade revenue up 13% in 2021, physical outperforms streaming growth
Revenue from physical formats on CD and vinyl grew at a faster rate than streaming, up by 14.6% to £241 million. These figures coincided with an increase in the number of indie record shops, which went from 390 in 2020 to 407 in 2021 (according to ERA figures).
Vinyl revenue soared by 34% (thanks in part to rising prices) to £117.2m, but perhaps the real achievement for the industry was the growth of 1.4% in CD revenue to £115.9m – the first increase since 2017. CD still generates slightly more than vinyl for labels and artists, although the change is likely to occur this year.
The CD format benefited from superstar releases by Adele (the year’s biggest album across formats), Ed Sheeran, ABBA and Dave. ABBA’s Voyage was the No.1 seller on vinyl last year.
Streaming is not going anywhere but neither are music fans whole love buying and collecting CDs, Box Sets and vinyl records.
Also, remember to check out platforms like Bandcamp and the artist’s own website before heading off to Amazon or eBay. You may well find more exclusive editions and you will be helping to support the artist far more.
Thank you for watching and for all your support
Phil Aston
Now Spinning Magazine
