For the first time since 1987, vinyl sold better than CDs.
Streaming continues to dominate the music market; Image: Recording Industry Association of America
The Recording Industry Association of America (RIAA) released statistics showing that in the U.S. vinyl sales in 2022 were higher than CDs. 41 million records were sold, compared to 33 million CDs. Vinyl also accounted for a larger share of sales than CDs in the United Kingdom, Germany, Japan, and South Korea.
The reason for the revival of the vinyl are as follows:
Nostalgia
Better, more pleasant and authentic sound quality
Sales of songs by today's singers, such as Taylor Swift (1.7 million records sold)
Records, however, continue to account for only a small portion of total industry sales, with 84% coming from the "streaming" sector, such as Spotify, Apple Music and YouTube Music. CDs and vinyl together account for a market share of 11%.
