CD and Vinyl Sales 2023 – Current Trends and Analysis – Music Biz Chat with Phil Aston
Vinyl fans do have a reason to celebrate! The year 2023 has witnessed a significant surge in vinyl sales, with a 13.2% increase year-on-year for the first nine months. As per the latest data from the BPI, a whopping 3,952,262 vinyl LPs found their way to music collections by the end of September. This growth surpasses the 12.4% increase observed in the first half of the year. The third quarter alone saw a 15.1% year-on-year increase, translating to sales of 1,237,620 vinyl LPs.
While 2022 saw a modest 2.9% growth in vinyl sales, 2023 is poised to bring back the double-digit growth for the format. The upcoming Q4 promises to be a blockbuster, with anticipated releases from iconic artists like Take That, the Rolling Stones, and Taylor Swift. The vinyl community is also eagerly awaiting Black Friday, Record Store Day’s sister event, scheduled for November 24. This event will feature over 90 artists, including big names like De La Soul, Sia, Joni Mitchell, Prince, Rilo Kiley, The Doors, and Post Malone, releasing limited edition vinyl editions.
However, it’s not all sunshine and roses for the physical music market. CD sales have experienced a dip of 6.3% year-on-year in 2023, amounting to 7,270,654 units sold. This has resulted in an overall flat growth in physical sales, with a minor 0.5% decrease, totaling 11,365,554 units.
Streaming continues to dominate the music consumption landscape, holding an 88.5% share of the recorded music market. The growth in Streaming Equivalent Albums (SEA) remains robust, with an 11.6% increase by the end of Q3, accounting for 118,914,835 units, as per BPI data.
Phil Aston | Now Spinning Magazine
