Over the past decade, physical formats of music, especially vinyls, have slowly been making a comeback among people of all ages. These people have either discovered a new love or rekindled an old one for the unique experience of listening to an album on a record player.
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A Brief History
The idea of vinyls has been around since the late 1800s with the invention of the phonograph. This invention wasn’t exactly the record player we see today, but it was the basis for it and what eventually led to it being created. According to American History Now, It wasn’t until the mid 20th century when the 12” LP vinyl became the main format of records.
Vinyls thrived for many years until newer formats of music were invented in the 80s and took over the music industry, making the listening experience more convenient and portable. The creation of cassettes, and then CDs, eventually led to even more convenient listening devices such as the MP3 player and then the current most popular form of listening to music; streaming.
The 21st Century
Despite the fact that vinyls died out towards the end of the 20th century, they are slowly making a comeback in the 21st century. According to the Year-end RIAA Revenue Statistics from the past few years, the biggest increase in vinyl sales in the USA occurred in 2021 and it continues to grow each year; “Revenues grew 61% to $1 billion in 2021. The last time vinyl records exceeded $1 billion was 1986” (Year-end 2021 RIAA Revenue Statistics). Even though CDs have also seen a growth in popularity since 2021, vinyls occupy over half of the physical products sales.
As for Canada, the increase in vinyl sales has not been as drastic which could be due to the combination of increased cost of vinyls and the cost of importing them into the country. According to a study on Statista, revenue of vinyl records saw an increase from $26.55 million to $38.02 million in 2020. The revenue of vinyls in Canada slowly grows each year, but it cannot beat how much it grows in the US.
Why Vinyls?
Everyone has their own reason for collecting vinyls, whether it be for the warmer sound quality, nostalgia, or the collectors editions. In recent years, many older artists have re-released their albums on vinyl for newer fans or fans who may not have gotten them when they were originally made. As for newer artists, it is common for them to release any new albums on vinyl and even make different vinyl pressings for limited editions. Fans often buy these limited editions because of their cooler designs and possibly exclusive items such as posters.
Although streaming is the biggest selling point for music, vinyls seem to be thriving in their rebirth and should continue to thrive in the coming years because of their dedicated collectors.
Sources
“History of the Cylinder Phonograph.” Library of Congress, www.loc.gov/collections/edison-company-motion-pictures-and-sound-recordings/articles-and-essays/history-of-edison-sound-recordings/history-of-the-cylinder-phonograph/. Accessed 9 Oct. 2024.
Leu, Patrick. “Canada: total music market sales 2020.” Statista, May 2021, www.statista.com/statistics/439631/physical-music-market-revenue-canada/. Accessed 10 Oct. 2024.
The Vintage Record. “The History of Vinyl.” American History Now, 27 Jan. 2014, americanhistorynow.org/2014/01/27/the-history-of-vinyl/. Accessed 9 Oct. 2024.
“Year-end 2021 RIAA Revenue Statistics.” RIAA, Mar. 2022, www.riaa.com/wp-content/uploads/2022/03/2021-Year-End-Music-Industry-Revenue-Report.pdf. Accessed 10 Oct. 2024.
