Sciencetech instacal download#
They have been dubbed 'Generation Phygital', as they have been raised in a digital download culture. 'While initially this renaissance was built largely on older music fans reconnecting with treasured past albums and on younger generations newly discovering classic releases, increasingly the ongoing rise in LP sales has been driven by brand new releases.'Īccording to the RIAA report, physical sales increased by four per cent in 2022, while sales of digital downloads fell by 20 per cent to $495 million (£407 million).ĭespite the convenience of streaming services, the demand for real, tangible products is particularly noticeable among young adults. Geoff Taylor, chief executive BPI, BRIT Awards & Mercury Prize, said: 'Vinyl's revival has been one of the most welcome success stories of recent times. I'm telling you, that's good for us long term.' 'Walk in today, and it's unbelievable how many ten, 15, 18-year-olds are in the store. This vinyl revival allowed music giant HMV to turn a profit for the first time in four years.ĭoug Putman, the owner of the chain, said: 'Before I bought HMV it was clearly an older demographic. The best-selling albums were Taylor Swift's Midnights, which shifted over 89,000 vinyl copies, and Harry Styles's Harry's House, Arctic Monkeys' The Car and Liam Gallagher's C'mon You Know. Last month, the the British Phonographic Industry (BPI) confirmed that vinyl sales hit a 30-year high in the UK in 2022, after growing for 15 consecutive years. They have been dubbed 'Generation Phygital', as they have been raised in a digital download culture (stock image) Their fate did change last year as sales for CDs fell by 18 per cent, but vinyl record sales increased by 17 per cent.ĭespite the convenience of streaming services, the demand for real, tangible products is particularly noticeable among young adults. This was because it prompted the closure of music shops and cancellation of tours, where a lot of units are sold at merchandise stands.īut CDs experienced their first year-over-year increase in 17 years in 2021, showing that listening to music away from a computer is still in style. Revenue from CDs, vinyls and cassettes has experienced a resurgence since 2021, as the year before the COVID-19 pandemic put a dent in the sales. This was a six per cent increase on that of 2021, largely thanks to streaming service subscriptions, but a significant contribution came from physical music formats too.
In 2022, the total revenue made from music in all formats came to a record high of $15.9 billion (£13.3 billion), making it the 15th consecutive year of growth. Mitch Glazer, the CEO and Chairman of RIAA, told Medium: 'Music lovers clearly can't get enough of the high-quality sound and tangible connection to artists vinyl delivers and labels have squarely met that demand with a steady stream of exclusives, special reissues, and beautifully crafted packages and discs.' It compiles the returns made from recorded music in the US through streaming services, digital downloads and physical unit sales.
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