The vinyl resurgence made the news in December when, for the first time, money spent on LPs overtook that spent on digital downloads. "And, impressively, in between all that, there is still more than enough space for the CD, which remains popular both with upcoming artists, who need an attractive physical product, and consumers, who still like to gift, collect and own the recordings they love.” Meanwhile older baby-boomers are embracing streaming alongside their record collections." "Millennials, who’ve grown up digital, are increasingly choosing to experience both current and heritage artists on vinyl also. “Fans are listening to music in so many ways now – we’ve definitely entered a multi-channel era," Vanessa Higgins, CEO Regent Street and Gold Bar Records, and an independent label member of BPI Council, said. An astonishing 45 billion audio streams were served in 2016, representing an increase of more than two-thirds on last year. That's because consumers are increasingly using streaming services like Spotify to enjoy music. However, vinyl is still quite a niche product compared to the total music market, accounting for just 2.6% of the overall sales.įewer CDs are being bought, with a drop of 11.7% compared to 2015, though it still remains a relatively resilient format with 47.3 million CDs bought.ĭownload figures have also fallen, with just 18.1 million albums bought online - a sharp drop of 29.6%.
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