Streaming services may dominate the music business, but physical media, particularly vinyl records, has seen a resurgence, driven by an increasing appreciation for ownership. In 2024, vinyl sales hit $1.4 billion, marking its highest revenue since 1984. Indie labels contributing to sales and initiatives by artists like Taylor Swift are bolstering vinyl's appeal, which accounted for a significant portion of physical revenue. Meanwhile, streaming subscriptions hit a record 100 million, indicating a robust digital market, even as fans cherish physical formats for their perceived quality and security from shifting licensing agreements.
Despite the dominance of streaming services, physical media, especially vinyl, remains significant, evidenced by record high sales of $1.4 billion and rising preferences for ownership.
In addition to vinyl's resurgence, with 44 million shipments compared to 33 million CDs, indie label contributions to sales highlight a diverse marketplace for physical music.
Fans value physical formats, associating vinyl with superior audio quality and a more personal connection to music, along with the worry of streaming access eroding.
Streaming services continue to gain ground, with an average of 100 million paid subscriptions in the US and revenue growth indicating a stable digital landscape amidst vinyl's rise.
Collection
[
|
...
]