For the first time since 1987, vinyl sales have surpassed CDs as interest in the format continues to grow.
The growth has been continuous over the past seven years. According to data from the Recording Industry Association of America, US vinyl sales will reach 41.3 million in 2022, compared with 33.4 million CDs sold in the same year.
“I’ve always been a fan of physical media, especially vinyl. It’s great to see more people coming back to it,” Ian Fraser, owner of Obsolete Records in Halifax, told CTV National News. “I definitely think people want to get something new or get a new collection, something they can spend money on and really enjoy.”
Interest in vinyl exploded after the pandemic began. In 2020, vinyl sales are up 28% year-over-year, and in 2021, sales are up 68.8%.
Fraser says: “I have a very large client base of micro-babys coming in and seniors coming back to it… Everyone is really excited to be collecting.
These numbers still pale in comparison to streaming, which accounts for 84% of revenue in the music industry. But enthusiasts say nothing can beat the unique sound quality, look and feel of owning a vinyl record.
Tom Spence, owner of Renegade Records in Dartmouth, NS, told CTV National News: “I think it’s a way for people to interact with their favorite artist. Also, it’s part of the identity of the show. someone”.
Artists are earning less than a penny per stream, but thanks to the vinyl resurgence from artists new and old, experts say record sales will only increase, meaning with fans supporting the artist more.
“They’re adding different songs that are only available on vinyl. In fact, Taylor Swift’s ‘Midnights’ album has sold a staggering more copies than The Beatles and Fleetwood Mac combined.” music industry expert Eric Alper told CTV National News.
