Sales of music on vinyl toppled the CD format in 2022 for the first time in 35 years. UK record sales reached £116.8 million in 2022, dwarfing CD sales of £98.3 million by almost 16%. It’s the first time vinyl sales have exceeded CD sales in the UK since 1988.
These figures back up an emerging global trend, coming a year on from the news that vinyl sales topped CDs in the United States for the first time in 30 years in 2021. Last year, vinyl sales in the UK increased 23% to £135.6 million, while CD sales continued to decrease.
Music industry trade body BPI’s chief exec Geoff Taylor says: “As the LP marks its 75th anniversary in 2023, it’s as relevant as ever. In an age of streaming, physical music purchases remain an essential and healthy part of the music market.”
Kim Bayley, the chief executive of the Entertainment Retailers Association (ERA) also commented on the latest findings: “It’s a watershed moment for the entire music industry. After the CD came along and pretty much wiped out the vinyl business, few of us would have believed a renaissance like this was possible.”
With new technology plunging into the market all the time, how long will the vinyl resurgence continue? Is it a trend with an expiry, or is it here to stay for the long haul?