US Vinyl Sales Revenue Hit a 30-Year High in 2018
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The crush when we opened doors at the #Rappcats @groovemerchantsf pop up record shop. Spot @rocmarci copping rare French libraries, @alanthechemist pulling Blaxploitation obscurities and dozens of others discovering something new in this stellar collection Chris Veltri spent the last year assembling….
As CDs tumble into obscurity, vinyl continues to reclaim physical market share.
A new report from The Recording Industry Association of America paints a hopeful picture for the future of wax. According to their end of year revenue report for 2018, revenue from vinyl sales now comprise more than a third of total physical formats, hitting its highest share of physical sales since 1988 with a growth of 8% in 2018.
But while acetates climb back into the fold and show signs of surpassing its rival formats, physical sales at large are still taking a hit. According to the same report, CD revenue shrunk by 34%, dropping below $1 billion in sales revenue for the first time since 1986. And while the physical market continues to lose an unending fight against streams in a playlist and click economy, even digital download sales are being trampled in the streaming landscape. The RIAA claims that revenue from digital downloads fell another 25% in 2018, occupying just 11% of total music sales last year.
Streaming, of course, maintains a stronghold, contributing 75% of total revenue in 2018 across a range of formats, including premium and free subscription services, as well as streaming radio services.