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Vinyl records accounted for 71% of all physical music format revenues in 2022

Discussion in 'music' started by tpetsch, Mar 16, 2023.

  1. tpetsch

    tpetsch pfm Member

    Interesting article about record sales:

    "Vinyl continued its remarkable revival by outselling CDs in 2022 for the first time since 1987, according to the Recording Industry Association of America’s annual report. The RIAA's year-end summary reflects this astonishing comeback, with vinyl albums selling 41 million units in comparison to just 33 million CDs.

    As vinyl sales continue to grow, CD sales are falling. Revenues from vinyl records rose 17% to $1.2 billion in 2022, the sixteenth consecutive year of growth for the format, and accounted for 71% of all physical music format revenues. While CDs did experience a 2021 rebound after 2020, revenues from CDs dropped a worrying 18% to $483 million in 2022.

    Streaming, unsurprisingly, continues to dominate the entire picture..."
  2. daytona600

    daytona600 Registered User

    Metallica have sold so much vinyl that they've bought their own factory
    Furnace Records is taking its partnership with the iconic metal band to a new level the band reportedly pressing over 900,000 LPs in 2022
    Furnace operates a 70,000 square foot, state-of-the-art facility in Alexandria, Virginia, with 12 Pheenix Alpha presses and two Finebilt presses
    tpetsch likes this.
  3. Rug Doc

    Rug Doc pfm Member

    That’s incredible.
    tpetsch likes this.
  4. mikeyb

    mikeyb pfm Member

    Vinyl revenue has risen over the last 16 years not only on sales numbers but due to price increases. Wait until you see next year's report, I've seen mention of 40% price increases :eek:
    tpetsch likes this.
  5. gavreid

    gavreid pfm Member

    In the US. In the UK CD outsold vinyl about 2:1, albeit that revenue from vinyl sales was slightly larger.
    tpetsch likes this.
  6. narabdela

    narabdela who?

    The difference between number of units sold, and revenue garnered, always seems to get fudged.
    tpetsch likes this.
  7. Tarzan

    Tarzan pfm Member

    The acid test of vinyl's current sales growth will be the cost of new discs.....
    tpetsch likes this.
  8. Woodface

    Woodface pfm Member

    The golden goose will be killed once again when the cost of an album reaches £30 plus.
    Dave Decadent, tpetsch and narabdela like this.

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