People’s consumption habits are changing faster and more surprisingly. We have seen in a precedent article, as the ultrasonic toothbrush could supplant the traditional one.
In this instead we will talk about a trend that is now a reality.
Are you a music lover? You will be shocked by this news
The Recording Industry Association of America (RIAA, a professional association) published some surprising data on Thursday 10 September. Sales of vinyl exceed those of CDs in the US which has not happened since 1986.
CD sales nearly halved in the first half of the year in the US and are now significantly lower than vinyl sales.
8.8 million vinyl records sold
In the first six months of 2020, 8.8 million vinyl records were sold, for a turnover of 232.1 million dollars, up 3.6% compared to the same period from 2019.
By comparison, CD sales plunged 47.6 percent to $ 129.9 million on 10.2 million compact discs, according to data from the RIAA.
Over 72 million subscriptions to streaming services
It hasn’t happened since the days of audio cassettes
This is the first time since 1986 that vinyl sales have exceeded CD sales. In that year, the dominant format was the audio cassette, which alone accounted for 58% of the units sold.
LPs and other EPs have held up better than most brick-and-mortar closures during the coronavirus pandemic.
But even in the midst of a renaissance, carried by a new generation of collectors, vinyl still accounted for only 4.1% of the US music industry’s sales in the first half of the year.
Unsurprisingly, the sector is dominated by digital, which accounts for 91% of music sales, of which 84.8% are for streaming.
Are you a music lover? This data is interesting!
In a difficult environment linked to the pandemic, the music industry recorded a 5.6% increase in turnover compared to the first half of 2019, to 5.65 billion dollars.
The number of subscriptions to streaming services jumped another 23% to 72.1 million.
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