In the near future, the revenue generated by record sales is likely to surpass the revenue generated by CDs
, which came out on Thursday. Vinyl records earned $224.1 million in the first half of 2019, closing in on the $247.9 million generated by CD sales. Vinyl revenue grew by 12.8% in the second half of 2018 and 12.9% in the first six months of 2019, while the revenue from CDs barely budged. If these trends hold, records will soon be generating more money than compact discs.
Despite vinyl’s growth, streaming still dominates the music industry — records accounted for just 4 percent of total revenues in the first half of 2019. In contrast, paid subscriptions to streaming services generated 62 percent of industry revenues.Rolling Stone in 2015. “It’s a sexy, cool product. It represents an investment in music that’s an emotional one. [But] it is a small percentage of our business. It’s not going to make or break our year. We devote the right amount of resources to it, but it’s not something where we have a department for it.”
Still, the vinyl resurgence has been a boon for some artists, especially classic rock groups. The Beatles sold over 300,000 records in 2018, while Pink Floyd, David Bowie, Fleetwood Mac, Led Zeppelin, Jimi Hendrix, and Queen all sold over 100,000.
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