Vinyl Sales Set To Overtake CDs For First Time In Oz
Vinyl sales are set to overtake those of compact discs for the first time in Australia since CDs became the dominant musical format.
In 2020, Australian vinyl sales made up 5.4 per cent of total revenue, up 32 per cent from the previous year.
CDs declined 17 per cent in 2020, shifting just 3.92 million units, and making up 5.6 per cent total revenue.
ARIA predicted in April, upon releasing those figures, that vinyl was set to overtake CDs in the Australian market later this year.
This comes as JB Hi-Fi continue to increase the amount of floor-space given to vinyl, while majorly cutting back on CD inventory.
A mid-year report released today by Billboard, shows that vinyl is already outselling CDs in the US.
Vinyl sales in the US grew by 108 per cent during the first half of 2021 to 19.2 million, while CD sales rose a mere 2.2 per cent, to 18.9 million.
Interestingly, it is both new releases, and evergreen classics, like Michael Jackson, Queen, Prince, and Fleetwood Mac that made up the majority of vinyl sales in the US.