Connect with us

Hi, what are you looking for?

News

Report: Domestic Vinyl Record Sales Surpassed CDs in 2022

The RIAA Annual US Recorded Music Revenue Report Reveals Vinyl Records Sales Have Passed CDs for 1st Time Since 1987.

U.S. Recorded Music Revenue from 2020 to 2022

The RIAA (Recording Industry Association of America) has released its final report on U.S. Music Sale Revenues for 2022 and it looks like trends revealed in its previous 2022 mid-year report have held steady, which is good news for vinyl listeners.

Whilst the increase in vinyl sales is a positive for the segment, there is softness in the market due to inflation, high album prices, and a lack of supply. There are not enough pressing plants to meet the demand and it takes time for these types of facilities to open and start supplying the market. There are at least 3 new pressing plants opening in the U.S. in 2023 but we will have to wait until the H1 2023 sales figures are released to know if things are changing.

NOTE: The information provided by the RIAA is for the U.S. market only. Worldwide recorded music revenue trends, especially within specific categories may differ. 

Physical Media

U.S. Physical Music Revenues 2022

Revenue from vinyl records increased in 2022, while CD sales revenue fell flat. Vinyl Record sales surpassed that of CDs for the first year since 1987 (that’s 35 years!).

Vinyl record sales increased for the 16th year in a row. For 2022, that increase amounted to 17% over 2021 to $1.2 billion dollars. That represents 41 million albums sold. 

On the other hand, CD sales revenue fell in 2022, down 18% from 2021 percent to $483 million or 33 million CDs sold. This is not good news for CDs.

There are several reasons vinyl record fans give for the popularity of the format, some of which include::

  • The warmth of analog sound — which is debatable.
  • You can hold the record (and by extension) the music in your hands.
  • You can go to the record store and physically browse. 
  • The beauty of album cover art 
  • You own the music. It becomes a part of your music library that can’t be censored or removed.
  • The culture of vinyl records – The Annual Record Store Day

However, although things look bright for vinyl, which is a major force keeping physical media alive, streaming and other digital delivery options have definitely captured consumer dollars and listening time.

Streaming

U.S. Streaming Music Revenue

Streaming music revenue grew 24% in 2021 to $12.4 billion (83% of total revenue music revenue).

The streaming category includes:

  • Paid Subscription Services
  • Ad-supported Free Services
  • Digital and Customized Radio
  • Licenses paid for the use of music on Facebook and Digital Fitness Apps.

Paid Subscriptions: These music streaming services grew 8% to $10 billion in 2022. This is about two-thirds of total music revenue, and 77% of streaming revenues. Services like Amazon Prime, Pandora Plus, music licenses for music used in digital fitness apps, and other subscriptions are included in this category. Limited-tier subscriptions (services limited by mobile access, catalog availability, product features, or device restrictions), are also included. This segment generated $1.1 billion in 2022 which is 18% higher than for 2021. 

Advertisement. Scroll to continue reading.

U.S. Paid Music Subscriptions

Ad-supported Free Services: These services include on-demand streaming (YouTube, the ad-supported version of Spotify, Facebook, and others) grew 6% in 2022 to $1.8 billion. Ad-supported services reached 11% of total recorded music revenue in 2022. 

Digital and Customized Radio: Revenue from digital and customized radio grew 2% to $1.2 billion in 2022. This includes SoundExchange which collects payments from SiriusXM and Internet radio stations, as well as payments directly paid by similar services labeled as “other ad-supported streaming”. Soundxchange distributes digital performance royalties to recording artists and master rights owners’ accounts. SoundExchange distributions fell 3% to $959 million in 2022, while other ad-supported streaming revenues were up 28% to $261 million. 

Digital Downloads

U.S. Permanent Digital Download Revenue

Despite increases in music streaming, digital download revenue decreased again in 2022. The decrease was down 20% to $495 million. Digital album sales were down 20% to $242 million and individual track downloads decreased to $214 million.

For 2022, digital downloads were only 3% of recorded music revenue. You would think that digital downloads would be more popular, but that is not the case.

More from RIAA

U.S. Recorded Music Revenues
5 Comments

5 Comments

  1. DeMe

    March 12, 2023 at 9:54 pm

    Shopping at a good record store is a fun.

    • Ian White

      March 13, 2023 at 11:24 am

      Indeed it is.

      Best,

      Ian White

  2. Walt Guyll

    March 13, 2023 at 4:37 pm

    Are these units moved or total revenue? I suspect more cds sold than vinyl albums.

    • Ian White

      March 13, 2023 at 5:06 pm

      Walt,

      I believe it is both. But physical vinyl units sold actually exceeded physical CDs sold for the first time in decades. These are only domestic numbers. CDs are still very popular in Europe and Asia and I’m willing to bet CD sales were higher in those markets.

      Best,

      Ian White

  3. Stefano

    March 14, 2023 at 8:49 am

    It should be more interesting to compare number of sold units instead of revenues … the very high price of vinyls vs cd’s can (it does for sure) make the statistics unreliable … a vinyl can cost 10/15 times a cd

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

New Products

HiBy R4 DAP Green

DAPs

At $249, the HiBy R4 DAP makes a strong case featuring a 4-DAC design, single ended and balanced outputs with class A amplification.

AVID Acutus Dark Iron Turntable AVID Acutus Dark Iron Turntable

New Products

With new darker iron finish along with mat and clamp upgrades, AVID was able to lower the price of its Acutus turntable to $17,000.

VIZIO SV510M08 5.1 Soundbar with Surround Speakers and Subwoofer VIZIO SV510M08 5.1 Soundbar with Surround Speakers and Subwoofer

New Products

For 2024 VIZIO is introducing seven new soundbars priced from $99 to $499 that easily attach to the bottom of a TV.

Hisense U9N Mini LED QLED 4K TV Lifestyle Hisense U9N Mini LED QLED 4K TV Lifestyle

HDTV 4K & 8K TV

Hisense's best TV for 2024 will arrive this Summer in 75-inch and 85-inch screen sizes for gamers and home entertainment enthusiasts.

Gryphon Audio PowerZone 3.10 and 3.20 Power Conditioners Gryphon Audio PowerZone 3.10 and 3.20 Power Conditioners

New Products

Utilizing proprietary, Patent-Pending Hafner Tech Modules, Gryphon PowerZone Power Conditioners proclaim a higher level of performance than typical power conditioning products.

Atlantic Technology Nexa 1 portable Bluetooth Speaker Lifestyle Atlantic Technology Nexa 1 portable Bluetooth Speaker Lifestyle

New Products

At only $199, Atlantic Technology's first portable Bluetooth speaker sports a robust 60-watt amplifier and 15 hours of battery life.

You May Also Like

Music

Bluesville Records celebrates America's bedrock music genre with release of its first two audiophile quality vinyl reissues on June 7, 2024.

Hi-Fi Components

eCoustics Vintage Audio Editor, Eric Pye, goes record shopping in the land of the rising sun and explores why Japanese hi-fi culture is unlike...

Gift Guides

Thoughtful gift ideas for the vinyl music lover who has everything that won't blow through your Holiday budget.

Music

Acoustic Sounds' new "75 for 75" series features 75 iconic Atlantic Records recordings reissued on 180 gram audiophile vinyl at 45 RPM. The experience...

Articles

We test out two inexpensive ways to clean vinyl records from GrooveWasher and Turntable Lab to keep your LPs sounding pristine.

Articles

The Best CD Players for 2023 include some fantastic units from NAD, Naim, Rotel, Marantz, Audiolab, Cambridge Audio and more.

Music

Limited Edition Reissue Series Continues With Van Morrison’s His Band And The Street Choir And Jaco Pastorius’ Word Of Mouth

Music

Looking for some early holiday cheer? Craft Recordings has announced a new 12-track collection featuring Otis Redding, the Staples Sisters, and Booker T. &...

Advertisement

ecoustics is a hi-fi and music magazine offering product reviews, podcasts, news and advice for aspiring audiophiles, home theater enthusiasts and headphone hipsters. Read more

Copyright © 1999-2024 ecoustics | Disclaimer: We may earn a commission when you buy through links on our site.



SVS Bluesound PSB Speakers NAD Cambridge Audio Q Acoustics Denon Marantz Focal Naim Audio RSL Speakers