Sales of vinyl records surpassed those of CDs in the U.S. for the first time since 1986, marking a key turning point for the format’s nostalgia-fueled resurgence.
People spent $232.1 million on long-play and extended-play records in the first half of the year, according to the Recording Industry Association of America (RIAA), eclipsing the $129.9 million they spent on compact discs.
Among the key findings, total first-half 2020 revenues from recorded music in the U.S. increased 5.6% to $5.7 billion. Paid streaming subscriptions continued to drive the growth as the number of paid subscriptions increased by 24% to more than 72 million on average, growing subscription streaming revenues for first-half 2020 by 14% versus first-half 2019. At the same time, with advertising markets slowing across the economy due to the COVID-19 pandemic, growth in ad-supported streaming revenues slowed dramatically. Physical sales, including vinyl albums and compact discs, were also affected by the pandemic and fell 23%.
Gary Price (gprice@gmail.com) is a librarian, writer, consultant, and frequent conference speaker based in the Washington D.C. metro area.
He earned his MLIS degree from Wayne State University in Detroit.
Price has won several awards including the SLA Innovations in Technology Award and Alumnus of the Year from the Wayne St. University Library and Information Science Program. From 2006-2009 he was Director of Online Information Services at Ask.com.
