CD shoots up in 2 decades; LP records revenue too
For CD lovers, here is some good news as after nearly two decades
San Francisco: For CD lovers, here is some good news as after nearly two decades, CD sales rose from $483.2 million to $584.2 million last year and shipments went up from 31.6 million in 2020 to 46.6 million in 2021 in the US.
According to data published by the Recording Industry Association of America (RIAA), LP Vinyl record sales have also been steadily increasing, and hit 39.7 million units in the US in 2021, bringing in $1 billion in revenue. Meanwhile, CD and vinyl album sales combined made up less than 11 per cent of revenue for the music industry.
CD sales enjoyed year-over-year growth for the first time since 2004, reports Axios.
"Combined with the decade-long vinyl sales explosion, overall physical music sales grew for the first time since 1996," the report noted.
