It’s no surprise that the market for vinyl is booming. Though until recently, we had no idea how popular it actually is. Turns out, right now vinyl sales are more profitable than streaming.
Though recent findings do not include Apple Music while it’s still in it’s free trial mode, The Recording Industry Associate of America just released some impressive new stats. In the last year to year review, vinyl sales profited $222 million (USD), — a 52% increase from the previous year.
Streaming of course, is by no means doing poorly either, with a 27% increase last year equating to a $163 million industry as NME points out.
There has been a decrease in CD sales, but it hasn’t disappeared neccesarily. As Joshua Friedlander told Digiday, the playing field has just been leveled: “There is more optimism out there than there was. Two-thirds of the market is still physical [CDs]. It used to be monolithic. Now it’s a mix of things, a revenue diversification that makes a more stable source to grow off of.”
Will it continue to grow, or even out? Let us know what you think in the comments below!