U.S. Vinyl sales have surpassed CD sales for the primary half of 2020. According to a report by the Recording Industry Association of America (RIAA), this is the first time it has happened in more than 30 years.
The report reveals a total of $376 million made by physical music sales in the first half of the year. Vinyl accounts for about $232 million, coming out to 62% of that total.
Although music sales have fallen since the unprecedented impact of the COVID-19 pandemic, recorded music revenue continues to grow. Streaming makes up a majority of that revenue, making it about 85% of the market.
As the coronavirus pandemic continues to roam its way around the U.S., physical music sales continue to drop. According to the report by the RIAA, the pandemic created a significant impact on physical product revenues due to retail store and concert venue closures. This is in addition to the predicted yearly 23% revenue decrease.
