MESSAGE
| DATE | 2020-09-11 |
| FROM | Ruben Safir
|
| SUBJECT | Subject: [Hangout - NYLXS] killing digital
|
https://www.bloomberg.com/news/articles/2020-09-10/vinyl-record-sales-top-compact-discs-for-first-time-in-34-years
bloomberg.com
Vinyl-Record Sales Top Compact Discs for First Time in 34 Years
By Lucas Shaw
2-3 minutes
Photographer: Noriko Hayashi/Bloomberg
Photographer: Noriko Hayashi/Bloomberg
Sales of vinyl records surpassed those of CDs in the U.S. for the first
time since 1986, marking a key turning point for the format’s
nostalgia-fueled resurgence.
People spent $232.1 million on limited-play and extended-play records in
the first half of the year, according to the Recording Industry
Association of America, eclipsing the $129.9 million they spent on
compact discs.
Vinyl was the most popular way people listened to music throughout the
1970s and the early 1980s, at which point it gave way to tape cassettes
-- followed by CDs and digital formats. Each new format was more
convenient than the last and suppressed interest in vinyl.
Victory for Vinyl
Sales of vinyl records eclipsed CDs in the first half of 2020
Source: RIAA
Yet vinyl sales have been rising since 2005, when they bottomed out at
just $14.2 million. Music fans value the higher-fidelity sound produced
by vinyl and record players, which contrasts with the compressed files
offered by most digital services. The top-selling LP in the U.S. last
year was the Beatles’ “Abbey Road.”
Overall physical sales have fallen this year due to the coronavirus,
which has stunted traffic to retail stores. CD sales fell 48% in the
first half of the year.
Even with the rebound, vinyl and all physical media are increasingly
niche products. Streaming accounted for 85% of music revenue in the
first half, the RIAA found.
--
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