Time to dust off the old turntable, vinyl records are having a major comeback.
For the first time in more than three decades, vinyl records outsold CDs, according to the Recording Industry Association of America's annual revenue report.
In 2022, 41 million vinyl units were sold compared to 33 million CDs, highlighting a "remarkable resurgence" of the physical music format, per the report released Thursday. Vinyl records made up a total of 70% of all physical music sales in 2022, bringing in a total of $1.2 billion in revenue, according to RIAA.
Though vinyl is making gains and reaching new generations, streaming still reigns supreme, accounting for 84% of total music revenue in 2022, per RIAA. Still, vinyl sales are on the rise even as supply issues and bottlenecks plague the industry and companies struggle...continue here.
-- Bethany Biron
