vinyl music industry witnessed a boom in US

vinyl music industry witnessed a boom in US

vinylVinyl has a massive increase in the sales, Vinyl sales have been exploding for nearly a decade. The music industry witnessed 29.8% boom in the US alone according to Nielsen Music. There is a steady growth in sales over the past decade that is 6.1 million records were sold in 2013, 9.2 million in 2014 and nearly 12 million in 2015-marks the 10th straight year of vinyl sales growth.

Independent record stores have driven the sales, accounting for 45% of all vinyl sales in the US. Most traditional record stores are collapsing its thrilling to see the opening of stores dedicated to vinyl. Last year, Barnes and Noble opened vinyl sections in each of its 650 stores.

Sainsbury’s another UK-based mega supermarket in the UK –has announced plans to stock vinyl across 171 stores. Vinyl sales have grown year on year since 2007, reaching a massive 1.3 million in 2014,the highest annual total since 1995.Vinyl is the only other growth area in the music industry besides streaming.

In December 2015,Tesco –the biggest supermarket chain in the UK has decided to stock a range on vinyl albums after a successful trial during the summer. Vinyl is generating more revenue than all ad- supported on-demand streaming music services and the cost of vinyl manufacturing and distribution is substantial.

You must be logged in to post a comment Login