news 1 week ago

Vinyl Sales Exceed CDs for the First Time Since the 1980s

Wibbitz
Vinyl Sales Exceed CDs , for the First Time Since the 1980s. Vinyl record sales surpassed sales of CDs in the first six months of 2020 by more than $100 million. Sales of CDs racked up nearly $130 million, while vinyl record sales exceeded $232 million. In the 1980s, vinyl records were overtaken by both cassettes and CDs as the preferred method of listening to music. But sales of vinyl records have been making a resurgence since 2005. This year, vinyl record sales were up four percent, while CD sales were down 48 percent. Music streaming continues to dominate, with paid streaming experiencing a growth of 12 percent, equal to nearly $5 billion. Despite the pandemic, the music industry overall has grown 5.6 percent in the first half of 2020