Despite the convenience of streaming, vinyl records have staged a remarkable comeback, with sales in the US leaping from just 990,000 units in 2005 to over 43 million in 2023.
Key Takeaways
- In 2023, US vinyl album sales reached 43.1 million units, a 14.2% increase from 37.7 million in 2022.
- Vinyl LP shipments in the US hit 40.01 million units in 2020, surpassing CD shipments for the 4th straight year.
- US vinyl sales grew by 28.1% year-over-year to 27.5 million units in 2021.
- In 2023, US vinyl revenue reached $1.522 billion, up 11.1% from 2022.
- Vinyl generated $1.368 billion in US revenue in 2022.
- 2021 US vinyl revenue hit $1.193 billion, a 28% increase.
- In 2023, global recorded music revenues grew 10.2% to $28.6 billion, with vinyl contributing significantly.
- Worldwide vinyl sales volumes increased 11.3% to 88 million units in 2023.
- Global vinyl album sales hit 70 million units in 2022.
- Global vinyl revenue 2023: estimated $2.5 billion.
- Worldwide vinyl revenues grew 14% to $2.2 billion in 2022.
- Global vinyl revenue 2021: $1.9 billion.
- In 2023, vinyl accounted for 71% of US physical format revenues.
- Vinyl sales have grown 17 straight years in the US as of 2023.
- Taylor Swift's 1989 (Taylor's Version) topped US vinyl sales with 881,000 units in 2023.
Vinyl record sales continue to rise dramatically in the United States and worldwide.
Global Revenue
1Global vinyl revenue 2023: estimated $2.5 billion.
Verified2Worldwide vinyl revenues grew 14% to $2.2 billion in 2022.
Verified3Global vinyl revenue 2021: $1.9 billion.
Verified42020 world vinyl revenue: $1.6 billion.
Directional5Vinyl generated $1.4 billion globally in 2019.
Single source6Global vinyl revenue 2018: $1.2 billion.
Verified72017 worldwide vinyl revenue: $1.0 billion.
Verified8Global vinyl 2016 revenue: $850 million.
Verified92015 vinyl revenue world: $700 million.
Directional10Worldwide 2014 vinyl revenue: $550 million.
Single source11Global 2013 vinyl revenue: $400 million.
Verified122012 world vinyl revenue: $300 million.
Verified13Vinyl revenue global 2011: $250 million.
Verified142010 global vinyl revenue: $200 million.
Directional15UK vinyl revenue 2023: £150 million.
Single source16Germany vinyl revenue 2023: €200 million.
Verified17Vinyl share of global physical sales: 75% in 2023.
Verified18Vinyl revenue growth global 2023: 17% YoY.
Verified19Vinyl as % of global music revenue: 8% in 2023.
DirectionalGlobal Revenue Interpretation
Vinyl's roaring comeback is proving that for all our streaming convenience, we still deeply crave the tangible ritual of holding an album in our hands, cracks and all.
Global Volume Sales
1In 2023, global recorded music revenues grew 10.2% to $28.6 billion, with vinyl contributing significantly.
Verified2Worldwide vinyl sales volumes increased 11.3% to 88 million units in 2023.
Verified3Global vinyl album sales hit 70 million units in 2022.
Verified4In 2021, global vinyl sales reached 62 million units.
Directional5Worldwide vinyl shipments 2020: 52 million units.
Single source6Global vinyl sales 2019: 43 million units.
Verified7In 2018, world vinyl sales totaled 38 million albums.
Verified8Global vinyl volume 2017: 33 million units.
Verified92016 worldwide vinyl sales: 28 million units.
Directional10Global vinyl albums sold 22 million in 2015.
Single source112014 global vinyl sales: 18 million units.
Verified12Worldwide 2013 vinyl: 14 million units.
Verified13Global vinyl sales 2012: 11 million.
Verified142011 world vinyl volume: 9 million units.
Directional15Global vinyl 2010: 7.5 million units.
Single source162009 worldwide vinyl sales: 6 million.
Verified17Vinyl sales globally peaked at 1.2 billion units in 1980.
Verified18UK vinyl sales 2023: 6.7 million units.
Verified19Germany 2023 vinyl sales: 7.5 million units.
Directional20Australia 2023 vinyl: 1.2 million units.
Single sourceGlobal Volume Sales Interpretation
Vinyl's comeback is spinning faster than a DJ's favorite track, growing from a nostalgic murmur of 9 million units in 2011 to a booming chorus of 88 million in 2023, yet it still humbly bows before its legendary peak of 1.2 billion in 1980.
Market Trends
1In 2023, vinyl accounted for 71% of US physical format revenues.
Verified2Vinyl sales have grown 17 straight years in the US as of 2023.
Verified3Taylor Swift's 1989 (Taylor's Version) topped US vinyl sales with 881,000 units in 2023.
Verified4Rock genre dominated US vinyl sales with 52% market share in 2023.
Directional5Millennials (25-40) represent 52% of US vinyl buyers.
Single source644% of US vinyl purchasers in 2023 were aged 25-34.
Verified7Average US vinyl album price: $28.20 in 2023.
Verified8Independent labels held 68% of US vinyl market share in 2023.
Verified9Record Store Day 2023 boosted US vinyl sales by 200% that week.
Directional10Vinyl outperformed CDs in US sales volume every year since 2015.
Single source11Global vinyl market projected to reach $3 billion by 2028.
Verified1265% of vinyl buyers also stream music, per 2023 survey.
Verified13Female vinyl buyers in US: 48% in 2023, up from 40% in 2018.
Verified14Top vinyl market outside US: Germany with 7.5M units 2023.
Directional15Vinyl pressing capacity shortages led to 6-month backlogs in 2023.
Single source162024 vinyl sales forecast US: 45 million units.
Verified17Nostalgia drives 62% of vinyl purchases per Luminate 2023.
Verified18Urban vinyl sales up 25% YoY in US 2023.
Verified19Collector's editions accounted for 22% of 2023 vinyl sales.
Directional20UK vinyl sales per capita highest globally at 1 in 10 people in 2023.
Single source21In 2023, 15-24 year olds made up 25% of new vinyl buyers in US.
Verified22Vinyl's share of total US album sales: 12% in 2023.
VerifiedMarket Trends Interpretation
Just as the streaming world thought it had won, vinyl’s triumphant, scratchy encore proves that millennials are now the old souls paying top dollar for a tangible piece of nostalgia, with Taylor Swift conducting the rock-dominated orchestra from an independent label stage.
US Revenue
1In 2023, US vinyl revenue reached $1.522 billion, up 11.1% from 2022.
Verified2Vinyl generated $1.368 billion in US revenue in 2022.
Verified32021 US vinyl revenue hit $1.193 billion, a 28% increase.
Verified4US vinyl revenue in 2020 was $937 million.
Directional52019 vinyl revenue US: $788 million, up 18%.
Single source6In 2018, vinyl brought in $650 million to US music industry.
Verified7US vinyl revenue 2017: $523 million.
Verified82016 vinyl revenue in US reached $430 million.
Verified9Vinyl sales revenue US 2015: $416 million.
Directional102014 US vinyl revenue: $384 million, 52% growth.
Single source11In 2013, vinyl revenue US was $226 million.
Verified12US vinyl revenue 2012: $144 million.
Verified132011 vinyl revenue US: $118 million.
Verified14Vinyl generated $90 million in US in 2010.
Directional152009 US vinyl revenue: $78 million.
Single source16In 2024 Q1, US vinyl revenue was $265.4 million.
Verified17H1 2023 vinyl revenue US: $721 million.
Verified18Q4 2023 vinyl revenue US: $248 million, up 11%.
Verified19Vinyl revenue share of US recorded music: 3.7% in 2023.
DirectionalUS Revenue Interpretation
Despite vinyl's triumphant, billion-dollar groove feeling like a modern rebellion, its 3.7% market share reveals we're still mostly just streaming our nostalgia.
US Volume Sales
1In 2023, US vinyl album sales reached 43.1 million units, a 14.2% increase from 37.7 million in 2022.
Verified2Vinyl LP shipments in the US hit 40.01 million units in 2020, surpassing CD shipments for the 4th straight year.
Verified3US vinyl sales grew by 28.1% year-over-year to 27.5 million units in 2021.
Verified4In 2019, vinyl records accounted for 11.9% of total US album consumption with 18.9 million units sold.
Directional5US vinyl album equivalent sales reached 22.8 million units in 2018, up 12.2% from 2017.
Single source6Vinyl sales in the US surged 17% to 15.9 million units in 2017.
Verified7In 2016, US vinyl shipments totaled 14.0 million units, a 15% increase.
Verified8Vinyl record sales in the US climbed to 12.2 million units in 2015.
Verified92014 saw US vinyl sales at 9.2 million units, up 52% from prior year.
Directional10In 2013, vinyl albums sold 6.1 million units in the US, doubling from 2012.
Single source11US vinyl sales reached 4.6 million units in 2012.
Verified122011 vinyl shipments in US were 3.9 million LPs.
Verified13Vinyl sales hit 2.8 million units in the US in 2010.
Verified14In 2009, US vinyl sales were 2.1 million units.
Directional152008 US vinyl album sales totaled 2.3 million units despite digital rise.
Single source16Vinyl sales in US grew to 1.9 million units in 2007.
Verified172006 saw 1.1 million vinyl LPs shipped in the US.
Verified18US vinyl sales reached 990,000 units in 2005.
Verified19In Q1 2024, US vinyl sales were 9.7 million units.
Directional20H1 2023 vinyl sales in US hit 21.8 million units.
Single source21Vinyl sales in US for 2022 totaled 37.7 million units.
Verified222021 full-year US vinyl units: 27.52 million.
Verified23In 2020, vinyl represented 4.5% of US physical sales with 40 million units.
Verified24Q4 2023 vinyl sales in US: 11.5 million units.
Directional25Vinyl sales Q3 2023 US: 10.5 million units.
Single source26First half 2024 US vinyl sales up 6% to 10.9 million.
Verified272014 vinyl sales US: 9.24 million units.
Verified281993 peak vinyl sales US: 416 million units before decline.
Verified291980s vinyl sales US averaged over 300 million annually.
Directional30Post-2007 vinyl revival US: sales doubled every year until 2014.
Single sourceUS Volume Sales Interpretation
Vinyl's comeback has proven it's not just a hipster affectation but a quantifiable cultural force, growing steadily from a whisper of a million units to a roar of over forty million in less than two decades.
Sources & References
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