Vinyl record sales surpass CD sales for first time in 35 years

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Vinyl record sales surpass CDs overview: 

• Who: Vinyl record sales outpaced CD sales for the first time since 1987, according to the Recording Industry Association of America’s annual revenue report. 
• Why: A total of 41 million vinyl records were sold last year, compared to 33 million CDs.
• Where: Nationwide.

Vinyl record sales surpassed that of CD sales for the first time since 1987, according to an annual revenue report released by the Recording Industry Association of America (RIAA) earlier this month. 

A total of 41 million vinyl records were sold in 2022 — compared to 33 million CDs — with the association remarking the number was indicative of a “remarkable resurgence” for the physical music format, Business Insider reports. 

Vinyl records represented 70% of all physical music sales last year, while accounting for $1.2 billion in revenue, according to the RIAA’s report. 

The last time vinyl records topped sales in the physical music space was before the release of the compact disc more than three years ago, an invention that revolutionized the space, Business Insider reports. 

Sales for both vinyl records and CDs have dropped since the rise of music streaming platforms such as iTunes and Spotify; however, both of the physical music formats have reportedly been making a comeback recently. 

Streaming platforms accounted for 84% of music revenue in 2022

While vinyl record sales have seen a resurgence, streaming platforms still accounted for 84% of all music revenue last year — compared to 11% for physical, 3% for digital downloads and 2% for sync — according to the RIAA report.

Vinyl record sales did grow 17% to $1.2 billion, however, a number that represents the 16th consecutive year of increased revenue for the physical music format. 

“Revenues from physical music formats continued to grow after their remarkable resurgence in 2021,” the RIAA report said. 

The top artists for vinyl record sales last year, meanwhile, were Taylor Swift, Harry Styles and Olivia Rodrigo, according to Luminate’s 2022 annual report, which found Gen Z listeners were 25% more likely than those from other generations to purchase a vinyl record. 

A consumer filed a class action lawsuit against Mobile Fidelity Sound Lab and Audiophile Music Direct last year, arguing the companies misrepresented vinyl records sold as Limited Edition Ultradisc One-Step recordings as genuine analog recordings. 

Did you purchase a vinyl record or other physical music product last year? Let us know in the comments.

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