Vinyl expected to outsell CDs by end of the year
The Compact Disc was billed as technology that would render vinyl records obsolete when it was introduced in the early 1980s.
But now, the Recording Industry Association of America is predicting that revenue from vinyl record sales could overtake that of CDs by the end of the year, CNBC reported.
Sales of new and new and used vinyl records have been increasing over the past decade, going up 55.8% from 2010 to 2011 and 131.8% from 2011 to 2012, CNBC said, according to eBay data. The network also said there was an 18.5% year-over-year increase in sales of new records from 2016 to 2017.
CD revenue has also steadily declined. Dan Orkin, director of content at music gear marketplace Reverb, which also sells records, told CNBC that’s partially because of streaming services.
“For some, streaming has cheapened music, and the ritual of buying and owning a record is a way to really commit to the artist and their work,” Orkin said.
Roundabout Music Company in Whitesburg, Kentucky, opened five years ago, the store’s co-owner Lacy Hale told Gray News. Many people from multiple generations buy old records there.
“Older people, you know, they’re like, ‘Man I used to listen to these when I was a teenager and I can’t believe they are coming back,” she said. “Young kids coming in, they’re looking for Pink Floyd or the Beatles.”
Hale said she thinks the nostalgic ritual of playing records is part of what attracts people.
“There’s that ritual of taking the record out of the sleeve and putting it on the turntable and you get to see the art,” Hale told Gray News.