According to the 2017 report by the Recording Industry Association of America (RIAA) physical album sales have once again come out on top over digital.
Even better news is that it’s not just vinyl sales that have increased, it’s music sales in general. Given the music industry has been undeniably effected by a torrent of pirates and their respective platforms, it shows that the industry is evolving with new technology and is getting back on track. Meaning more music for me, you and hopefully more money for artists too.
In a world now dominated by music streaming, vinyl continues to be the ever-growing bright light amongst physical album sales.
Vinyl sales increased 10% while CDs dropped 6% in the past year. Overall, the music industry has grown for the second year in a row and with $8.7 billion in new found revenue, meaning it’s the healthiest it’s been since 2008.
While any recovery of music sales is fantastic, RIAA Chairman Cary Sherman labelled the recovery “fragile”. With the industry only returning to 60% of its “peak size” it’s also evident there is a lot of work left to do for it to remain sustainable in the long term.
The numbers from the report show that the market is made up of 65% streaming, 15% digital downloads and 17% from physical music sales. This isn’t the first time either, with physical copies taking the cake in 2011 too, suggesting there will always be a place for a few vinyls around the house.
