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For the first time since 1987, vinyl sales surpass CD sales.

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Image Credit: Vocal Media Although vinyl record sales have been increasing for years, they reached a new high in 2022, according to the RIAA's 2022 year-end revenue report for the music business. Unit sales of vinyl albums surpassed those of CDs for the first time since 1987, proving all the people who have spent their entire lives raving about how vinyl "just sounds better" right. According to the RIAA report released on Thursday, vinyl record sales have steadily increased over the past 16 years and now represent 71% of all physical music earnings. The growth margins involved here aren't insignificant either; while physical formats as a whole grew by 4% between 2021 and 2022, earning $1.7 billion, vinyl sales only generated $1.2 billion, up 17% from the previous year. In contrast, CD sales fell by 18% in 2022. Also Read: Replay 2023 on Apple Music is now available- How to Check The RIAA is not the only organization to assert that vinyl has surpassed CDs in popularity. Though its figures only included UK sales data, the Entertainment Retailers Association (ERA) reported the same milestone earlier this year. Outside of the US and the UK, renewed interest in the format has also caught on, with sales increasing in countries like Germany, Japan, and South Korea. Venyl-Record Image Credit: The Richest Although there have always been those who claim that music played on vinyl sounds superior to music played on digital devices, this is probably not the reason for vinyl's rising popularity so many years after the invention of CDs, MP3s, and streaming music. Vinyl albums are large enough to serve as works of art, and in a time when media is becoming more transient, there is something alluring about the tactile quality of physical objects. In addition, vinyl's comeback has a retro-tech component. There are enduring communities around modding and restoring old PCs, game consoles, typewriters, and a variety of other things that have ostensibly been "replaced" by superior alternatives. Older digital point-and-shoot cameras are currently popular with high school and college students who grew up with smartphones. Although CDs and iPods are currently on the decline, they might soon experience a comeback thanks to a popular TikTok trend. Record Sale Image Credit: Smallbiztrends Although vinyl has made a remarkable comeback, streaming still rules. According to the RIAA report, music streaming services like Spotify and Apple Music will account for an astounding 84% of all music sales in 2022 after increasing by 7% from the year before to a record-breaking $13.3 billion. However, sales of digital downloads are still falling. After already declining by 12% in 2021, the format fell by 20% this year to just $495 million. Even though digital music is very popular, it seems that consumers prefer the convenience of streaming to owning a piece of music. That is unless you can hold the music in your hands, or it comes in a sturdy cardboard sleeve.

By Raulf Hernes

If you ask me raulf means ALL ABOUT TECH!!


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