Back to the Future – Sales of Vinyl Overtake the CD – Hope 103.2

Back to the Future – Sales of Vinyl Overtake the CD

After steady growth in recent years, vinyl records have finally surpassed CD album sales - but digital still dominates.

By Justin RouillonFriday 13 May 2022MusicReading Time: 2 minutes

The Australian recorded music industry hit a 15-year high in 2021, according to a recent report from the Australian Recording Industry Association (ARIA).

And although video, digital streaming and subscriptions services make up the vast amount with 90 per cent of sales, there’s one interesting element in the report.

The vinyl record, which has been on the rise for many years now, has finally outstripped sales of CDs in the physical sales segment. Vinyl sales totaled $29.7 million, compared with $24.9 million for CD albums.

Overall, wholesale sales reached $565.8 million in 2021, up 4.4 per cent from $542 million in 2020 – and up 20.7 per cent from $468.7 million in 2017.

ARIA Chief Executive Officer, Annabelle Herd (supplied).

ARIA Chief Executive Officer Annabelle Herd said: “It is fantastic to see continued growth in the Australian recording industry, which remains a Top 10 market globally. This speaks to the growing value of the sector as a serious economic contributor, but also underscores the fact that music continues to be part of the fabric of Australian lives.”

The growth in vinyl sales has led to ARIA creating a separate chart for releases on vinyl, with the sales increase not lost on the ARIA CEO.

“The vinyl market is an increasingly important player as our market evolves, affording music fans across generations the opportunity to add classics to their collection, but also for fans of new music to have a greater sense of connection and ownership toward recordings they love.”

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“It is in important sector for independent artists, DJs and emerging subcultures that deserves serious recognition.”

Article supplied with thanks to 96five.

Feature image: Photo by KrayBoul on Unsplash