The Vinyl Sales Boom, Explained
In the U.S., 2020 marked the first year vinyl reigned supreme as the top physical music medium for the first time in over 30 years. Interestingly enough, the classic format saw a 30 percent sales boost compared to 2019, resulting in a notable $140 million dollar year-over-year increase. In fact, 2020 also went on record as having the most number of vinyl units sold on record since Nielsen started tallying vinyl sales in the early nineties. With millions of people stuck at home for the majority of 2020, it appears the desire to experience music beyond digital streaming triumphed.
Vinyl’s performance in 2020 should come as no surprise. Record sales have been gradually increasing for the last decade and a half, and Christmas week 2020 proved to be the biggest week for a vinyl last year — an indication that vinyl collection is not only seen as a personal treat but one to be shared as well. The year’s top vinyl artists sold were Harry Styles, Billie Eilish and Queen, with other top titles belonging to classic rock acts like Nirvana, The Beatles, and Pink Floyd. With many of the vinyl purchases being made by or for members of the Millenial and younger generations, vinyl is proving to be a great opportunity for youth to experience music long before their time, and do so via its original consumption platform. Additionally, with the rise of record playing devices offering multiple listening options with Bluetooth and AUX capabilities, high-quality audio, affordable pricing, and sleek, modern aesthetics perfect for an Instagram-ready interior decor shot, it’s no surprise first-time vinyl buyers are becoming even more inclined to purchase their first devices and become first-time collectors.
While renowned stores like Los Angeles’ Amoeba Music were forced to shut down their original locations, others permanently, it’s amazing to see vinyl sales soar as they have.
In addition to retail stores like Urban Outfitters and Target, which have been selling vinyl goods and record players for years, also fueling the revival are institutions like Record Store Day. Started in 2007, Record Store Day is an annual event started by partners Eric Levin, Michael Kurtz, Carrie Colliton, Amy Dorfman, Brian Poehner and Don Van Cleave. Their main goal is to keep small, indie record stores alive. By incentivizing purchase with vinyl exclusives, in-store activations, and limited edition copies, Record Store Day has been a major force on the analog front, engaging the expected mature audience just as much as younger consumers. In 2020, Record Store Day was hosted across multiple dates in an effort to further alleviate the economic stresses placed upon these local shops during the global pandemic. Remaining successful, the annual tradition not only provided relief for store owners and employees, but an additional outlet for fans to consume their favorite tunes from the comfort of home.
While renowned stores like Los Angeles’ Amoeba Music were forced to shut down their original locations, others permanently, it’s amazing to see vinyl sales soar as they have. There seems to be a general consensus that digital technologies and formats will consistently prevail. Charlie Randall, CEO of home audio products company, McIntosh Labs, refutes that argument on the basis of physical formats’ enduring, incomparable quality: “I think it’s natural for any generation to think that the technology of their time will be replaced by future technology and go extinct. In large part, I think that’s the case except with vinyl records. There is something romantic about records, something satisfying about opening the album jacket, seeing the fantastic artwork and studying the liner notes while listening to the album. That’s something that today’s digital files just can’t replace.”
Due to the rising popularity of vinyl records, it has become the norm for modern artists to have a vinyl version of their latest albums available in their album merch stores. Even independent artists are hopping on the bandwagon. Streaming service Bandcamp recently announced the option for artists to utilize the site’s custom pressing service to offer their fan communities vinyl versions of their latest projects. Graciously, Bandcamp will allow artists to have “complete control” over nearly all aspects — pricing, design, and the service will claim no ownership of the music they press. This is not only a major monetization opportunity for newer artists but a timely approach with major implications about modern buying practices.
Perhaps it is a longing for the good ol’ days, the mere fact that so many of us have had the extra time and resources take a “lean in” listening experience, or maybe we’ve all had a or a general craving to hear music in a novel way that has caused the vinyl interest to grow as it has. Whatever the cause or correlation is, it’s clear that despite their tradition, records aren’t going away anytime soon.
