Vinyl sales in the US have experienced a remarkable surge, with a growth of over 20% in the first six months of 2023. According to Luminate’s mid-year report, 23.6 million LPs were sold during this period, compared to 19.4 million in the same timeframe in 2022, marking an impressive increase of 21.7%. Additionally, overall physical album sales have risen by 13.3% in 2023, with a total of 41.5 million physical copies sold compared to 2022’s 36.7 million.
Direct-to-consumer vinyl sales, specifically from artists’ own webstores rather than third-party retailers, have shown significant growth, surging by more than 26% this year with 2.6 million sales. Luminate’s report highlights that 1-in-9 vinyl sales are made through direct-to-consumer platforms, with vinyl surpassing CD and cassette sales in this category. Notably, direct-to-consumer sales predominantly consist of new and current music, distinguishing them from other sectors such as streaming.
The top vinyl sales for new music in the US include artists like Taylor Swift, Lana Del Rey, Tyler, The Creator, and boygenius, as well as the classic album ‘Rumours’ by Fleetwood Mac.
Additional findings from Luminate’s report indicate that US-based fans of K-pop, Afrobeats, and EDM are more likely to spend more money on music, tickets, and merchandise each month than the average US music fan. Gen Z stands as the leading buyer of vinyl and cassettes, while Gen X leads in CD sales and overall physical music purchases. Furthermore, concert tickets are the most popular music purchase among general music listeners.
While vinyl has experienced a surge in popularity, not all record distributors and retailers have thrived. Independent UK distributor Unearthed Sounds recently announced its closure due to rising vinyl pressing costs and the environmental impact associated with the medium.
Despite some challenges, the vinyl resurgence continues to capture the hearts of music enthusiasts, with sales climbing to unprecedented levels in 2023.
Written by: Artificial Intelligence Technology