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
- 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.
- 2020 world vinyl revenue: $1.6 billion.
- Vinyl generated $1.4 billion globally in 2019.
- Global vinyl revenue 2018: $1.2 billion.
- 2017 worldwide vinyl revenue: $1.0 billion.
- Global vinyl 2016 revenue: $850 million.
- 2015 vinyl revenue world: $700 million.
- Worldwide 2014 vinyl revenue: $550 million.
- Global 2013 vinyl revenue: $400 million.
- 2012 world vinyl revenue: $300 million.
- Vinyl revenue global 2011: $250 million.
- 2010 global vinyl revenue: $200 million.
- UK vinyl revenue 2023: £150 million.
- Germany vinyl revenue 2023: €200 million.
- Vinyl share of global physical sales: 75% in 2023.
- Vinyl revenue growth global 2023: 17% YoY.
- Vinyl as % of global music revenue: 8% in 2023.
Global 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
- 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.
- In 2021, global vinyl sales reached 62 million units.
- Worldwide vinyl shipments 2020: 52 million units.
- Global vinyl sales 2019: 43 million units.
- In 2018, world vinyl sales totaled 38 million albums.
- Global vinyl volume 2017: 33 million units.
- 2016 worldwide vinyl sales: 28 million units.
- Global vinyl albums sold 22 million in 2015.
- 2014 global vinyl sales: 18 million units.
- Worldwide 2013 vinyl: 14 million units.
- Global vinyl sales 2012: 11 million.
- 2011 world vinyl volume: 9 million units.
- Global vinyl 2010: 7.5 million units.
- 2009 worldwide vinyl sales: 6 million.
- Vinyl sales globally peaked at 1.2 billion units in 1980.
- UK vinyl sales 2023: 6.7 million units.
- Germany 2023 vinyl sales: 7.5 million units.
- Australia 2023 vinyl: 1.2 million units.
Global 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
- 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.
- Rock genre dominated US vinyl sales with 52% market share in 2023.
- Millennials (25-40) represent 52% of US vinyl buyers.
- 44% of US vinyl purchasers in 2023 were aged 25-34.
- Average US vinyl album price: $28.20 in 2023.
- Independent labels held 68% of US vinyl market share in 2023.
- Record Store Day 2023 boosted US vinyl sales by 200% that week.
- Vinyl outperformed CDs in US sales volume every year since 2015.
- Global vinyl market projected to reach $3 billion by 2028.
- 65% of vinyl buyers also stream music, per 2023 survey.
- Female vinyl buyers in US: 48% in 2023, up from 40% in 2018.
- Top vinyl market outside US: Germany with 7.5M units 2023.
- Vinyl pressing capacity shortages led to 6-month backlogs in 2023.
- 2024 vinyl sales forecast US: 45 million units.
- Nostalgia drives 62% of vinyl purchases per Luminate 2023.
- Urban vinyl sales up 25% YoY in US 2023.
- Collector's editions accounted for 22% of 2023 vinyl sales.
- UK vinyl sales per capita highest globally at 1 in 10 people in 2023.
- In 2023, 15-24 year olds made up 25% of new vinyl buyers in US.
- Vinyl's share of total US album sales: 12% in 2023.
Market 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
- 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.
- US vinyl revenue in 2020 was $937 million.
- 2019 vinyl revenue US: $788 million, up 18%.
- In 2018, vinyl brought in $650 million to US music industry.
- US vinyl revenue 2017: $523 million.
- 2016 vinyl revenue in US reached $430 million.
- Vinyl sales revenue US 2015: $416 million.
- 2014 US vinyl revenue: $384 million, 52% growth.
- In 2013, vinyl revenue US was $226 million.
- US vinyl revenue 2012: $144 million.
- 2011 vinyl revenue US: $118 million.
- Vinyl generated $90 million in US in 2010.
- 2009 US vinyl revenue: $78 million.
- In 2024 Q1, US vinyl revenue was $265.4 million.
- H1 2023 vinyl revenue US: $721 million.
- Q4 2023 vinyl revenue US: $248 million, up 11%.
- Vinyl revenue share of US recorded music: 3.7% in 2023.
US 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
- 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 2019, vinyl records accounted for 11.9% of total US album consumption with 18.9 million units sold.
- US vinyl album equivalent sales reached 22.8 million units in 2018, up 12.2% from 2017.
- Vinyl sales in the US surged 17% to 15.9 million units in 2017.
- In 2016, US vinyl shipments totaled 14.0 million units, a 15% increase.
- Vinyl record sales in the US climbed to 12.2 million units in 2015.
- 2014 saw US vinyl sales at 9.2 million units, up 52% from prior year.
- In 2013, vinyl albums sold 6.1 million units in the US, doubling from 2012.
- US vinyl sales reached 4.6 million units in 2012.
- 2011 vinyl shipments in US were 3.9 million LPs.
- Vinyl sales hit 2.8 million units in the US in 2010.
- In 2009, US vinyl sales were 2.1 million units.
- 2008 US vinyl album sales totaled 2.3 million units despite digital rise.
- Vinyl sales in US grew to 1.9 million units in 2007.
- 2006 saw 1.1 million vinyl LPs shipped in the US.
- US vinyl sales reached 990,000 units in 2005.
- In Q1 2024, US vinyl sales were 9.7 million units.
- H1 2023 vinyl sales in US hit 21.8 million units.
- Vinyl sales in US for 2022 totaled 37.7 million units.
- 2021 full-year US vinyl units: 27.52 million.
- In 2020, vinyl represented 4.5% of US physical sales with 40 million units.
- Q4 2023 vinyl sales in US: 11.5 million units.
- Vinyl sales Q3 2023 US: 10.5 million units.
- First half 2024 US vinyl sales up 6% to 10.9 million.
- 2014 vinyl sales US: 9.24 million units.
- 1993 peak vinyl sales US: 416 million units before decline.
- 1980s vinyl sales US averaged over 300 million annually.
- Post-2007 vinyl revival US: sales doubled every year until 2014.
US 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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