| 24 Feb 2024
Vinyl Sales in US reach highest in 26 years; driven by young consumers

MUMBAI: The first half sales of vinyl records in 2015 passed the mark of 9 million, according to the Recording Industry Association of America (RIAA). The figure reached a total of 14 million vinyl sales in the US during the whole of 2014. The first half figure leads to the estimation that the vinyl sales could reach the highest number in 26 years in the country.

‘Millenials’ (an industry term for young consumers) are credited with the impressive growth in vinyl sales, according to MusicWatch. The study shows more than 50 per cent of the vinyl records were bought by consumers under the age of 25. The study further concluded that first half of the year saw more men buyers than women.

RIAA’s senior vice president of strategic data analysis, Josh Friedlander said, "It's definitely a bright spot for the business. In an increasingly digital age, vinyl records can provide a deeper, tactile connection to music that resonates with some of the biggest fans."

The rise in sales comes as a small relief to the music industry, which is gripped by the fear and concern revolving around the lower consumption of vinyl records. Sale of vinyl records never reached such promising figures since 1989, before the domination of compact discs overshadowed vinyl a year later.

Figures show an increase by 52 per cent in the first half of 2015, reaching $222 million (£146m). During the same period, streaming revenue has experienced growth to $163 million (£107m), RIAA reported.