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Vinyl keeps on spinning revenue
The Future. Streaming services may provide endless access to music, but vinyl makes the listening experience a little more special. That’s why record sales are hitting… well… records. Even while NFT music packages become the next phase of the digital revolution, artists may make sure to include vinyls as the cool cherry on top.
Streaming may be king, but vinyl is the crown jewel.
- Vinyl outsold CDs for the first time since 1986 (but who buys CDs these days?)
- Building on that success, vinyl sales are up 108% this year compared to the record-high sales in 2020.
What’s with the record-listening uptick? While people were stuck at home, listeners wanted to indulge in something more “luxury”… so they added to their vinyl collection.
As Bill Fields, the resident vinyl expert at Warner Music Group, points out, records are “eternally cool.” In a world where everything is digital, having something tactile and curated feels special.
The surge in popularity has actually created shipping delays at big box retailers such as Walmart and Target (which now account for 13% of all vinyl sales). That’s why artists like Taylor Swift announced her re-release of Red early so that retailers would be prepared for the demand.
Even the top artists know that vinyl cuts through the noise.