Vinyl records are experiencing a major resurgence in music and are becoming an increasingly popular trend among young people. In fact, product sales increased for the 16th consecutive year, according to the study by Recording Industry Association of America's (RIAA). In the USA alone, sales increased by 17% and resulted in revenue of US$ 1,2 billion last year.
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But the trend is not limited to the US. Recent researches showed that interest in the retro format of listening to music has also grown similarly in the United Kingdom, Germany, Japan and South Korea. Today, records inpoeirates account for 71% of all revenue from the physical format of music 😯!
From boomers to generation Z
There are several factors driving vinyl's renaissance. Many connoisseurs claim that the format offers a warmer and more authentic sound compared to digital. The search for nostalgia when listening to music can also be one of the market's main assets. Another factor is that younger generations are increasingly interested in vintage products, such as records.
Studies show artists with huge Gen Z followings, like Taylor Swift, Harry Styles, Kendrick Lamar and Billie Eillish, dominating the top vinyl sales charts. Last year, for example, the singer Taylor Swift She was the artist who profited most from fashion, selling 1,7 million vinyl records. Now the singer Harry Styles sold 719 units, according to year-end sales report da Luminate.
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Despite the impressive return, the streaming services — like Spotify and Deezer — dominate the market and represented 84% of total music revenue in 2022, growing 7% compared to the previous year.
@curtonews Fashion is to be #vintage! Showing that they are not in the past, the albums #vinyl ♬ original sound – Curto News
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