Vinyl is back and beating CD sales for the first time since the 1980s. Where’s Madonna?
Retro throwback. That’s right. Vinyl is selling more than cassette tapes and CDs in 2020.
- Vinyl record sales accounted for $232.1 million in sales in the first half of the year (up by 4% from last year).
- Meanwhile, CDs only accounted for a measly $129.9 million of sales in the music industry’s 2020 first half (down by 48%).
How Does it Affect My Wallet?
Sad tunes. Physical music sales are still looking sad, with a 23% drop for the year at $376 million.
Streams have dominated. Music streaming is currently up 12% from the year before, with $4.8 billion in sales generated in the first half of 2020.
- Subscriptions to services like Spotify and Apple music are up by 24% for the year.
Happy music. The music industry is still growing at 5.6%, with $5.7 billion in total sales in the first 6 months of the year.
Don’t want to miss our financial news you can finally use? Subscribe to our newsletter – it’s free!