Ironic Twist: Vinyl Sales Continue To Grow While CDs Drop

September 21, 2018

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People sure love their vinyl. The Recording Industry of America (RIAA) released its mid-year report and it revealed that compact discs, the format aimed at replacing album vinyl, is now in danger of being replaced by it! While vinyl reached its highest sales figures since the early 1990s, CDs are dying off. The report says that comparing the first half of 2018 with the first half of 2017, vinyl revenue increased 12.6% while CD revenue dropped 41.5%. These days labels release fewer CDs and major retailers like Target and Best Buy have decided to limit quantities or even stop stocking discs altogether. At the same time, vinyl has musicians and experts betting on its sustained future due to its unique audio quality and nostalgic value. Another detail of the report: streaming had a 28% growth year-over-year, which is fueling speculation that in the near future it may be impossible to actually purchase digital copies of songs. While a rumor launched earlier this year claimed that Apple would shut down iTunes next year, the company assured us, at least for now, iTunes would be open for business.  When a reporter asked if iTunes would be ‘phased out’, an Apple Music executive said there was no timescale for the shutdown and said: ‘If I’m honest, it’s when people stop buying.

SOURCE: Rolling Stone & Metro

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