US vinyl record sales increased by 21.7 per cent in the first half of 2023
The Luminate report also shows that EDM fans spend +63 per cent more money on music categories per month than the average U.S. music listener
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Sales of vinyl records in the US have surged by over 20 per cent during the first half of 2023, according to Luminate’s midyear report.
The report, conducted by the Californian data analytics service, highlights trends in the music industry from January 2023 up to and including June 2023.
According to the report, 23.6 million LPs were sold in this period, marking a 21.7 per cent increase from 2022’s 19.4 million sales.
Physical album sales overall also saw a notable rise of 13.3 per cent in 2023, with 41.5 million physical copies sold compared to 2022’s 36.7 million.
Notably, direct-to-consumer vinyl sales experienced substantial growth, reaching 2.6 million sales and increasing by more than 26 per cent in 2023.
Another interesting stat from the report is that EDM fans spend +63 per cent more money on music categories per month than the average U.S. music listener.
While vinyl record sales are increasing year on year, it’s not wholly positive for record labels selling music in the format. In MusicTech’s recent interview with Mad Mats and Tooli, the founders of record label Local Talk, they said that due to rising pressing costs, the worth of distributing vinyl is dwindling.
“I got a statement for one of my other labels,” says Tooli, “and actually sold out a [vinyl pressing run]. It’s quite rare these days that you sell out the first pressing. And by doing the calculations, I made €120. It’s too much work, just to be nostalgic.”
While distribution costs are providing obstacles for many, the ever-rising popularity of the medium is still evident. In September, the world’s first multi-day vinyl festival, Haarlem Vinyl Festival, is expected to welcome a total of at least 15,000 visitors.
To read the full midyear report by Luminate, head to luminatedata.com.
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