Monday, July 07, 2008

Vinyl Will Not Be Saving the Music Industry Anytime Soon

There has been so much written and much buzzed about vinyl albums making a huge comeback. According to this posting on :

Nielsen Soundscan last week said that CD sales are down 16% in the past 12 months, while downloads have gone up 34% in the same time frame. What was really interesting is that vinyl sales have almost doubled this year so far, from 454,000 in 2007 to 803,000 so far in 2008.

Not even a million new vinyl records sold in the past 12 months. Even though it's double what it was the prior 12 months, that number is not enough for all albums sold to qualify as a platinum record. It's an interesting point, but until that number is in multiple millions, it doesn't mean much as a statistic.

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