Vinyl sales predicted to overtake CDs for the first time in 30 years

Mark Richardson, owner of Loafers in the Haliax Piece Hall.
Mark Richardson, owner of Loafers in the Haliax Piece Hall.

2019 may be the first time Vinyl sales beat CD sales since 1986.

In recent years, collecting records has become back in vogue, creating a global market worth over $19 billion.

During the last half of 2018 and the beginning of this year, vinyl sales grew by 12%, whilst CD sales have dropped. A report published by the Recording Industry Association of America states that CD sales were declining thee times as fast as vinyl sales were growing. This has resulted in vinyl sales accounting for over a third of revenue coming from physical releases.

The growing popularity of records has allowed more independent record stores across the county.

Mark Richardson, owner of Loafers in the Haliax Piece Hall is thrilled to hear that more people are buing and appreciating records.

"It's fantastic to hear that vinyl is doing so well. Ever since I was a child I've been fascinated with records, next to live music they're the best way to listen to music.

"When CDs first came in, they took over. People thought they were indestructible and better quality and then streaming came in and changed everything. Vinyl has recaptured people's imagination. The key collectors never stopped collecting, but it is great to see young people are getting into records.

"There's just something special about having a tangible version of an album and there's a wonderful nostalgia around them, " he said.

However, despite vinyls growing popularity compared to CDs, the RIAA say that paid streaming services like Spotify accounted for 62% of overall revenues, whilst vinyl only accounted for 4%.