Figures newly released by the BPI show that vinyl is truly making a comeback. Many artists are choosing to issue their albums in vinyl format, which has led to sales reaching 1 million for the first time in nearly two decades.
Vinyl sales made the million milestone in November 2014; with the Christmas spending period, which is crucial to sales figures, the BPI predicts that total vinyl figures for 2014 will reach 1.2 million. This will be the best performance for vinyl since the 1996 Britpop era.
Commenting in an official BPI press release, Gennaro Castaldo, said:
“We have entered an exciting best-of-all-worlds era where there is space and scope for all kinds of music to be discovered and enjoyed in every type of way, including on vinyl once again. Many of us assumed it had become an obsolete format, but while the flame may have flickered, it never quite went out, and we are now seeing a burgeoning resurgence in demand led by exciting new acts such as Royal Blood that is likely to keep vinyl on our high streets for many more years to come.”
The top performing albums for 2014 included David Bowie’s Best Of album and Pink Floyd’s “The Endless River”, which has sold more than 6000 copies already, and is now the fastest selling album of the century.
Martin Talbot, Official Charts Chief Executive, said:
“In scoring the biggest opening week for a vinyl album this millennium, Pink Floyd’s The Endless River illustrates the British public’s renewed love for this format, which is on course to become a £20million business this year – an incredible turnaround from barely £3m just five years ago. This resurgence also underlines music fans’ continuing fascination with the album.”
However, despite the growing interest in vinyl, it still remains a niche product accounting for just 2% of the recording market sector in the United Kingdom, but it does seem to appeal to all demographics including baby boomers that are nostalgic for vinyl, as well as music fans who’ve just begun to appreciate vinyl for the first time.
The increase in vinyl sales is also due to record companies making greater efforts to promote vinyl. Universal Music is just one company that has come out with innovative ways to boost the popularity of vinyl while also helping independent music retailers. In December 2014, Universal Music will make 12 vinyl releases available exclusively to independent music sellers from its back catalogue.