A dramatic renaissance in the popularity of vinyl and the decline in digital music purchases has resulted in a previously unthinkable anomaly… last week, the former brought in more money than the latter.
Official figures showed vinyl sales were worth £2.4 million in the UK, compared to the $2.1m amassed from digital downloads.
Related: Best turntable 2016
The stat represents a dramatic turnaround as this time last year vinyl raked in revenue of £1.2m compared to £4.4m in digital music sales.
In the meantime, subscription streaming services have become far more mainstream, while supermarkets and other high-street stores have jumped on the vinyl bandwagon.
Experts believe there’s no secret regarding the timing of the landmark, with the festive giving season rapidly approaching.
“
“People have become keen to support their favourite artists by buying into that ownership concept. It’s very difficult to demonstrate your love of an artist if you don’t have something to hold on to.”
However, just because vinyl is raking in more cash and has stretched its growth streak to eight straight years, it doesn’t mean records are outselling downloads just yet.
Whereas an iTunes download might cost £9.99, the vinyl equivalent is often upwards of £20.
“The mark-up on vinyl now is ridiculous” said Sean Forbes of the iconic Rough Trade record store in London.
Although, the resurgence “makes a change from all the people visiting London who always come in just to buy The Clash London Calling on vinyl, which personally we think is a bit moronic,” he added.
Panasonic Technics Grand Class SL-1200G- CES 2016
Have you joined the vinyl revolution or simply stopped buying digital music downloads in favour of Apple Music et al? Share your thoughts in the comments section below.
Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
Editorial independence
Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
