Vinyl records are almost a century old, with the first having been released in 1930. But despite the fact that this is a product that could’ve been “killed off” by plenty of products since (cassettes, CDs and music streaming) they still sell.
In fact, vinyl records are a splendid example of a “dated” product still thriving. Let’s look at the facts and figures behind this ever prevalent and seemingly immortal product.
- More young people listen to music on vinyl in 2023 than listen to CDs according to a UK survey.
- That same survey found that more than 1 in 10 people across the UK population listen to vinyls
- Vinyl record sales recently surpassed that of CDs!
- According to data from kwfinder.com, there are 1,000 searches per month in Google UK for “buy vinyl records”
- By comparison, there are 870 for “buy CDs”
- In 2022, 43% of all physical record sales were vinyl
So why is this ‘dated” product still selling?
We’ve seen so many products killed off by new technology. Blockbuster was killed off by movie streaming and postal DVD rental services.
CDs have been all but killed off by music streaming.
So why is vinyl, a product that is technically unnecessary now and almost a century old still seeing sales (sales having increased for 17 consecutive years).
Well, first of all a key label started producing vinyl. Sony music, in 2017, announced it would be producing its own vinyl music again having previously ceased such production in the late 80s.
A big leader making a big leap like this is important.
We’ve also seen artists like Taylor Swift promoting albums on vinyl.
So when you have big names engaging with the format it’s bound to lead to sales.
But ultimately, I think it’s down to love. A love of music. A love of the experience of putting a vinyl on and the associated nostalgia.
Whatever the reason for the thriving vinyl music sales, one thing is clear. This is a perfect example of a product that proves that technology doesn’t have to kill off everything.
