The music industry is still experiencing the vinyl resurgence…
We know that the music industry has been experiencing a resurgence in Vinyl LP sales. In fact, sales in vinyl recently reached their highest level since 1988. And thanks to a recent ICM poll, we also know that free streaming is helping to drive those sales.
The poll found that music fans are using platforms like YouTube, Soundcloud and ad-supported tiers on services like Spotify to sample music before they decide if they want to invest in a physical purchase or not. The study found that the most frequent vinyl buyer is a free-access streamer, a discovery that suggests that free music has the ability to ‘drive real-world sales’.
Now, thanks to BuzzAngle we know exactly how much vinyl sales have increased. According to BuzzAngle’s mid-year report, Vinyl LP sales in the US between the first six months in 2015 to the first six months in 2016 have experienced a 17% increase.
Overall album sales dropped from over 100 million in the first six months of 2015, to just over 86 million in the first six months of 2016 – That’s a 14% decline. This decline is a result of a 17% decrease is digital album sales, and an 11% decline in CD sales.
However, despite album sales in most formats declining, Vinyl is one of the only formats where album sales are growing. Vinyl LP sales have grown from 2.6 million in the first six months of 2015, to over 3 million in the first six months of 2016.
(Image by Ian T. McFarland, Creative Commons, Attribution-Share Alike 2.0 Generic, cc by-sa 2.0)