Vinyl sales have hit its highest level since vinyl was slowing being replaced by CD’s back in the 1980s.
It’s not the youth movement that is the sole reason vinyl sales are up by 53%, which is 3.2 million records and 2.6% of the music sales market in th UK, but also the older generation who are helping to revive this astonishing increase.
When you look at the CD and download market they are declining by 11.7% and the latter by 29.6% - which equates to 47.3 million CD’s and 18.1 million downloads.
There are a few reasons why consumers are buying vinyl but one interesting fact is the ‘collectable’ factor which 48% of vinyl consumers stated they did not play the vinyl they bought and 7% didn’t own a turntable - that is probably why David Bowie’s last album Blackstar took number one spot.
Amy Winehouse - Back To Black (2) - Bob Marley - Legend (7) - Prince - Purple Rain (9) and Nirvana - Nevermind (10) all of which have passed and the latter one member Kurt Cobain.
Big hitters are Radiohead - A Moon Shaped Pool (4) - Fleetwood Mac - Rumours (5) - The Stone Roses - Stone Roses (6) and surprisingly The Beatles - Sgt Pepper’s Lonely Hearts Club Band pipped at number 8.
The odd entry was Various Artists - Guardians of the Galaxy Mix 1 - which is a soundtrack album of the 2014 film.
Vinyl sales have grown steady over the past nine years and the revenue accounts to £40 million of the overall music market that is now worth £1bn in the UK for 2016.
Keep Rockin’ Folks ‘n’ Rockers!
“Vinylsales are being fuelled by many differentfactors”