Vinyl Sales Top CDs For The First Time Since 1986
In early September, a report from the recording industry has concluded that vinyl sales have outsold CDs for the first time since 1986. The report comes after physical copies of music have been greatly out favored by digital formats, but the small revival of vinyl records has brought that area back to the forefront.
According to a new report from The Recording Industry Association of America, vinyl records accounted for $232.1 million of music sales in the first six months of 2020, whereas CDs have only brought in $129.9 million.
Physical sales dropped by more than 23 percent this year, primarily caused by the pandemic, with CD sales dropping by 48 percent. Still, Vinyl records saw a small bump in sales compared to previous years, which is a demonstration of the music community’s support for vinyl records right now.
Meanwhile, the music industry saw a 5.6 percent increase in profit totaling $5.7 billion throughout the first half of 2020. Despite the increase in vinyl record sales, streaming made up for 85 percent of the music industry’s profit, highlighting the massive shift from physical copies to streaming in recent years.
With the ongoing pandemic and the music industry hitting a massive halt since March in the United States, be sure to continually support the artists you love and the local record stores in your neighborhood. The music scene is built by the community that supports it, regardless of how much control massive labels have over artists.
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