While vinyl has been enjoying a renaissance in recent years, the latest figures from the US paint a very different picture for 2024. According to Billboard’s recent music consumption report, vinyl sales across America have dropped by a staggering 33 per cent. In 2023, 34.9 million units were sold, but this year’s numbers show a significant fall to just 23.3 million.
The dip isn’t limited to vinyl, though. CDs have seen a decline of 19.5 per cent, while digital albums have dropped by 8.3 per cent. Overall, album sales have plummeted by 23 per cent, from 75.5 million units in 2023 to 57.7 million in 2024. The report suggests this sharp decline is likely more reflective of economic factors—vinyl records are often priced around $40, with deluxe box sets reaching up to $200—rather than a waning interest in the format.
In stark contrast, the UK is seeing a resurgence in physical music sales. According to the Official Charts Company and BPI, physical album sales are on track to grow for the first time in 20 years, with an increase of 3.2 per cent reported in the first half of 2024. This marks a shift from the streaming-dominated landscape that has reigned since 2004.
Key players in this revival include Taylor Swift, whose The Tortured Poets Department sold 254,241 copies in six months. Billie Eilish, The Last Dinner Party, and the joint effort from Liam Gallagher and John Squire have also contributed to this growth.
The UK’s vinyl resurgence reached a new high this April, with record sales achieving their highest weekly figures in three decades. Independent record shops have flourished, and beloved stores like HMV and Our Price have returned to the high street, bringing vinyl sales to their highest levels since 1990.
Photo: Melissa Phillip/Houston Chronicle via Getty Images
