Tuesday, September 15, 2020

Vinyl record sales surpass CDs for the first time since the 1980s


By Jazmin Goodwin, CNN Business

New York (CNN Business) - The days of vinyl records being a nostalgic relic of the past are long gone. This year, vinyl sales have outpaced CD sales in the United States for the first time since the 1980s.

Vinyl records accounted for $232.1 million of music sales in the first half of the year, compared to CDs, which brought in only $129.9 million, according to a report from the Recording Industry Association of America.

Vinyl records, also known as "records pressed on wax," were commonplace before other formats, such as cassette tapes and CDs, become the preferred mode of listening to music. But that hasn't stopped vinyl records from making a resurgence. Since 2005, sales for vinyl have grown consecutively. In the first half of 2020, vinyl revenue was up 4%, while CD revenue was down 48%, according to the RIAA.  Read more >>