Vinyl Sales Growth Slows to 1% in 2024: Has the Record Revival Hit Its Peak?
Latest vinyl sales data reveals a potential plateau in growth, though the format continues its impressive run of 18 consecutive years of revenue increases in the U.S. market.
Vinyl record spinning on turntable
Key 2024 U.S. Vinyl Statistics:
- Revenue: $1.44 billion (up 6.9% YoY)
- Units shipped: 43.6 million (up 1% YoY)
- Smallest growth since 2016 (1.8% YoY)
Despite slower growth, vinyl's long-term success remains remarkable:
- 158% sales volume increase between 2015-2024
- 67.3% jump from 2020 (23.7M units) to 2021 (39.7M units)
- 2024 sales are 2.3 times higher than 2019 levels
Global Market Performance (2024):
- Overall revenue growth: 4.6%
- UK: 2.9% growth ($189 million)
- Italy: 6.8% growth ($42 million)
- Spain: 3.8% decline ($36 million)
The data suggests a maturing market rather than declining interest. While the explosive growth of recent years may be leveling off, vinyl continues to show resilience in an era where streaming dominates music consumption.
Music market share in EU countries
Context remains important: even with slowing growth rates, vinyl's sustained success over nearly two decades - particularly while competing with cheaper streaming options - demonstrates its enduring appeal to music consumers.
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