But one of the other familiar music industry stories has also achieved a new level of novelty in 2020: Vinyl records have finally re-surpassed CDs in terms of sales. So it's probably little surprise that something else you never would have thought would happen happened, too: Vinyl records have outsold compact discs for the first time in 34 years, reports Bloomberg.
But that didn't stop it from resurfacing vinyl recordings. It was that enthusiasm for collecting that helped vinyl completely surpass (and nearly double) CDs in these 6 months: $232.1 million in music sales for vinyl, to only $129.9 million for CDs.
Vinyl was the most popular way people listened to music throughout the 1970s and the early 1980s, at which point it gave way to tape cassettes - followed by CDs and digital formats.
If there's no sound in the world sweeter to you than the comforting scratch of a record player needle making contact with a 12-inch LP, you're not alone. This calendar year, vinyl sales have outpaced CD sales in the United States of America for the very first time as the 1980s. In the first half of 2020, vinyl revenue rose 4%, while CD revenue fell 48%, according to RIAA. Physical sales plunged 23% to $376 million, in the first half of th eyear as the pandemic continues to stall music industry norms. Concerts and visits to music stores have all but disappeared.
Streaming services brought in a total of $4.8b, a 12% boost over the first six months of a year ago.
For streaming services only, more and more listeners are willing to pay to play. Paid streaming support subscriptions, for example Spotify and Apple Music, improved by 24 percent, RIAAreported. That makes streaming the dominating music format, accounting for more than 85% of music industry revenue.
So much, entire music industry earnings have risen 5.6 percent, largely driven by flowing, for a total of 5.7 billion during the first six months of the calendar year, independently.