Vinyl records are on track to outsell CDs for the first time in 33 years and prices have risen 490%
A customer in an antiques and collectibles shop in Newport, Oregon, holds a Peter Frampton record album for sale titled 'Frampton' which was released in 1975.This past week, the Recording Industry Association of America . It showed that 80% of the of music industry's revenue comes from streaming, but it also showed that revenue from sales of vinyl records is on track to overtake that of compact discs by the year's end, should current trends continue.
While sales have gone up, prices have as well. According to data from eBay, a new vinyl record cost an average of $4.80 in 2007, and in 2017 it had gone up to $28.40, an increase of over 490%. Mara Kuge, president and founder of Superior Music Publishing said that the shift is also partially driven by aesthetics. In other words, records look cooler than compact discs.
"Vinyl – at least some of it – is usually cut with gear that is vintage, so it has a nice, balanced sound, just like the old days. With digital, anything goes, and in the hands of a bad engineer, too much knob-twiddling is a disaster." He added that some independent reissue labels have begun to pay attention to their customers' changing tastes, and have shifted their strategies accordingly.
"Many vinyl collectors and fans are also users of streaming media," he said. "Discovering an artist on Spotify often leads to a vinyl purchase."
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