By Matthew Brooks
Based on the latest sales figures, you may have spent more on vinyl records than CDs over the past year.
CD sales are declining while vinyl sales are growing.
There is a good reason for this change, too.
Vinyls bring a level of nostalgia. They offer a level of sound quality that is unmatched.
People naturally feel close to their music. With vinyls, the music is close to the people. Putting the needle to the vinyl offers a level of endearment. It is less of a machine playing music for people and more of a person playing the music on an instrument called a record player.
Tom Corson, CEO of Warner Records, told Rolling Stone in 2015 that vinyls are “an investment in music that’s an emotional one.”
In the first half of 2019, record sales amounted to $224.1 million compared to CD sales at $247.9 million.
If the trend continues, vinyls will overtake CDs within the near future.
Vinyls represent more than one-third of physical music sales.
And it’s not just classic rock that is increasing in popularity, although that’s a part of it.
The Beatles sold 300,000 records in 2018.
The newest movies are releasing their soundtracks on vinyl.
Soundtracks for movies such as “Rocketman,” “Yesterday,” and “The Greatest Showman” are on vinyl.
Digital is still reigning queen of music. Online subscriptions account for 62% of music revenues.