The highest since 1988.
The Recording Industry Association of America (RIAA) has published its end-of-year report for 2018, with revenue from vinyl sales in the US reaching its highest point since 1988.
Climbing 8% from 2017, revenue from vinyl sales now accounts for a more than one third of all physical formats. CD sales revenue fell a staggering 34% to $698 million, the first time the format has generated less than $1 billion since 1986.
In the bigger picture, things were looking more positive, with overall revenue growing 12% to an estimated $9.8 billion. Much of this is down to a 30% rise in streaming revenue, which now accounts for 75% of all formats. By contrast, physical formats account for 12%, with digital downloads at just 11%.
And today a poster on the RMCR site noted something else interesting:
Bucking the trend, I am dumping ALL my vinyl except, blues, jazz, pop, rock, folk and these three classical labels: Lyrita, Albany and Franklin Mint. All told, about 8-10,000 items.Sales of used vinyl have skyrocketed even more than brand-new vinyl. Unfortunately, there are no reliable sources tracking used vinyl sales since it's a very decentralized marketplace comprised of independent used-record stores, thrift stores and charity shops, library shops, craiglist ads, yard and garage sales. You'll notice that sought-after used LP titles get snapped up quickly, and thrift stores display more modest quantities of used LPs than they did a few years ago during the two-decade-long great vinyl dump.