Vinyl Records Surge and the CD Makes an Unexpected Comeback”
Physical Music Sales on the Rise for the First Time in Two Decades
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Vinyl has been a key driver of this resurgence, with sales up by 12.4% year-on-year,. This ongoing vinyl boom is bolstered by initiatives like Record Store Day, HMV Vinyl Week, and National Album Day, which continue to draw superfans and collectors.
Despite its decline in recent years, the CD format shows signs of revival. CD sales for the first half of 2024 were down only 1.5% to 4,911,845 units, a significant improvement from the sharper declines of previous years. In Q2 that decline had reduced to 0.8%
Dr. Jo Twist OBE, BPI chief executive, noted, “It’s heartening to see that, after years of significant declines, the CD market is potentially on the up again.” This shift is attributed to the format’s resilience and the appeal of special editions and box sets. K-pop has notably led this trend, with albums often including collectible items like photo cards and posters. Phil Halliday, MD of HMV & Fopp, highlighted this phenomenon: “We’re seeing other genres embracing this, offering something above and beyond the traditional CD format, which I think is crucial to its continued success.”
However, concerns remain about the increasing prices of vinyl records, which could impact accessibility. Lawrence Montgomery, MD of Rough Trade, emphasized the need for caution: “The average retail price is now £27, and this is too expensive for some people.”
Despite these challenges, the outlook for physical music sales remains positive. With upcoming releases from major artists and continued enthusiasm from fans, the physical music market is set for continued growth.
The resurgence of vinyl and the potential comeback of CDs mark an exciting chapter for the music industry. With the physical music market poised for its first annual growth in twenty years, fans and industry insiders alike have much to look forward to in the months ahead.
Phil Aston | Now Spinning Magazine