Vinyl records are continuing their renaissance, based on recorded music sales data from the United States.
Figures released by the Recording Industry Association of America show the recorded music market in the Unites States reached record levels in the first half of 2024, hitting AUD$12.5 billion.
Music blog routenote.com reported vinyl record sales totalled 24.3 million units across the US in that time, representing growth of 10.7 percent, with the value of sales (AUD$1.07 billion) increasing 17 percent.
“CDs are also still on a surprising comeback, but with far more modest growth of just 0.3 percent,” it stated.
The data showed streaming remained the leader of music revenues, with total streaming revenue growing by 3.8 percent and making up 84.1 percent of the total revenue.
“Paid subscription revenues surpassed $5 billion (AUD$7.24 billion), growing faster than overall streaming revenue with 5.1 percent increases on the first half of 2023,” the blog reported.
