In tech gadgets, nostalgia is a growing market. Both in video games and on computers. But also in music. If the turntables have become something exclusive and very pampered by the experts, the vinyls are not going to the saga and the sales of records of vinyl outperformed CDs for the first time since 1987according to a report.
In total, just over 41 million vinyl records were sold in 2022 for about 1,200 million euros while “barely” 33 million CDs were solds, for a value of 483 million euros. This is the sixteenth consecutive year of growth in vinyl sales and they represent a total of 71% of sales of the physical format. The report notes that revenue from physical music formats has risen steadily over the years, marked by a “remarkable resurgence” in 2021 after the pandemic. Physical music revenue as a whole increased 4% last year, driven by vinyl records which saw a 17% increase. Meanwhile, CD revenue fell 18%.
The reasons for the return of vinyl are several. In the first instance, many brands have launched into the production of high-end turntables. They have also known how to adapt to current times and many not only make use of vinyl’s own technology, they also incorporate USB ports to incorporate music and Bluetooth connectivity to use headphones or speakers without the need for cables.
To this we must add that vinyl, unlike CDs, is a market with many collectors and limited editions. Also, thanks to their size, they can include tour or concert posters, photos of the artist or group, and even a digital download card.
To this we must add its scarcity: for decades vinyl records were abandoned to a life of oblivion and now they turn out to be very valuable. Vintage vinyl, perhaps from the 1950s or 1960s that is well cared for, has the potential to be worth much more in the future compared to newer records. Firstly, because there are few of them and secondly, because most of the discs that people have are not in a very good condition, so it is very rare to find them in good condition and well cared for.