Vinyl is set to outsell CDs for the first time since 1986, a new report reveals.
The revelation comes in a mid-year report from the Recording Industry Association of America.
- READ MORE: Iggy Pop, Bat For Lashes, Death Cab For Cutie and other big vinyl releases you need this week
Last year’s RIAA report revealed that CD sales are dying three times as fast as vinyl sales are growing, and it’s more of the same in this year’s.
The new report states that vinyl records earned $224.1 million (from 8.6 million units) in the first half of 2019. This figure is impressively close to the CD numbers ($247.9 million, 18.6 million units).
With vinyl revenue growing by 12% in the second half of 2018 and first half of this year, and CD rates barely changing at all, it could see vinyl revenue overtake that of CDs by the end of the year.
If it does happen, it’ll be the first time that vinyl has generated more revenue than CDs since 1986.
The report also reveals that, despite vinyl’s growing popularity in relation to CD sales, it still accounts for a relatively small percentage of overall music purchasing.
The RIAA report says that in the first half of 2019, vinyl record sales accounted for only 4% of overall revenues. Paid subscriptions to streaming services like Spotify and Apple Music, meanwhile, accounted for 62%.