According to a new report from the Recording Industry Association of America, vinyl records sold more units than CDs for the first time since 1987. Music fans purchased over 41 million vinyl units in 2022, a 3% increase from 40 million units in 2021. CD sales declined by 28% from 47 million to 33 million units.
Taylor Swift‘s “Midnights” was the highest-selling vinyl album, with 945,000 copies sold in 2022. This was followed by Harry Styles‘s “Harry’s House” (480,000), Olivia Rodrigo’s “SOUR” (263,000), Kendrick Lamar‘s “Good Kid, m.A.A.d City” (254,000), and Fleetwood Mac‘s “Rumours” (243,000) following the passing of Christine McVie.
Despite the resurgence of vinyl, streaming services remain the primary source of revenue in the industry. In 2022, streaming made up 84% of the overall revenue, reaching an all-time high of $15.9 billion. The average number of paid subscribers grew to 92 million, up from 84 million in 2021, while ad-supported streaming revenue from platforms like YouTube and Spotify’s free version increased by 6% to $1.8 billion.
RIAA chairman and CEO Mitch Glazier described 2022 as “a year of impressive growth,” more than a decade after the rise of streaming. He also acknowledged the efforts of record companies to build a healthy streaming economy that pays artists and rights-holders for their work.
For vinyl enthusiasts looking to add to their collections, Record Store Day 2023 will take place on April 22nd. Be sure to go out and celebrate by scouring through the selections of the currents and classics.
