If it was any other year, this would be pretty shocking, but 2020 just about has me fully numb. Still, it’s a little crazy.
For the first time since the 1980s, vinyl records have outsold CDs. (!!!) In the first half of the year, vinyl accounted for $232.1 million of music sales. CDs only brought in $129.9 million.
Vinyl grew by 4% in the first half of 2020, while CD sales were down 48%. Overall, physical sales are down 23%.
Which isn’t all THAT surprising, since the world is pretty much moving to streaming and digital music . . . and records are the only physical medium that’s “trendy” right now.
Streaming is up 12%, and accounts for more than 85% of music industry revenue.