CD and Vinyl Sales – latest Stats and New Release News
Music Biz Chat with Phil Aston
The Resurgence of Physical Music: Vinyl and CD Sales Making a Comeback.
In a digital age where streaming dominates our music consumption, the physical format of music is making an unexpected yet significant comeback.
2023 witnessed a remarkable 12.8% growth in revenue from physical formats, a sharp contrast to the 10.5% decline experienced the previous year. This resurgence is spearheaded by a notable rise in vinyl LP sales and a recovery in CD revenue, signaling a pivotal moment for physical music.
Despite the omnipresence of streaming services, the tangible experience of music, through vinyl and CDs, is carving out its niche. Vinyl, in particular, has seen an astounding 18.6% increase in revenue, amounting to £141.6m.
This growth is propelled by new releases, with seven of the year’s top ten vinyl sellers being 2023 releases, including chart-toppers like Taylor Swift’s “1989 (Taylor’s Version)” and Lana Del Rey’s “Did You Know There’s A Tunnel Under Ocean Blvd.”
CDs, too, are witnessing a renaissance. After years of decline, CD sales have shown signs of revival, with a 5.4% increase in revenue to £97.2m. This turnaround is significant, marking the first value increase in CD sales in two decades. High-value box sets and a renewed interest in the format contribute to this growth, highlighting the CD’s enduring appeal.
The resurgence of physical music is not just about nostalgia; it’s about quality, collectibility, and the tangible connection to the music and artists we love.
Events like Record Store Day and National Album Day play a crucial role in this revival, introducing a new generation to the joys of physical music collection.
Moreover, the increase in independent record shops and labels’ focus on targeting superfans suggest a bright future for physical music. As the MIDiA report notes, “Physical is emerging as the industry kingmaker,” underscoring the pivotal role physical sales play in transforming album sales from good to great.
In conclusion, while streaming remains the primary mode of music consumption for many, the resurgence of vinyl and CDs underscores a growing appreciation for the physical music experience. This trend not only celebrates the rich history of music but also opens up new avenues for artists and fans to connect in a digital world.
Phil Aston | Now Spinning Magazine
