Vinyl outsold CDs in the United States last year for the first time since 1987, according to an annual report from the Recording Industry Association of America. Vinyl sales accounted for 41 million units, compared to 33 million for CDs, comprising 71% of physical format revenue and growing 17% from the previous year.
“2022 was an impressive year of sustained ‘growth-over-growth’ more than a decade after streaming’s explosion onto the music scene,” RIAA chairman/CEO Mitch Glazier says. “Continuing that long run, subscription streaming revenues now make up two-thirds of the market with a record high $13.3 billion. This long and ongoing arc of success has only been possible thanks to the determined and creative work of record companies fighting to build a healthy streaming economy where artists and rights-holders get paid wherever and whenever their work is used.”
Overall, the U.S. recorded music industry had an estimated retail value of $15.9 billion in 2022, an all-time high that includes 92 million paid streaming subscriptions. In fact, streaming accounted for 84% of that total revenue and “continued to be the largest driver with paid subscriptions, ad-supported services, digital and customized radio, social media platforms, digital fitness apps, and others.”
Click here to read the RIAA’s annual report.
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