![]() ![]() The RIAA's 2018 year-end report said that it had fallen 34% to $698 million, the first time it had totaled less than $1 billion since 1986.ĭan Orkin, director of content at music gear marketplace Reverb, which also sells records via its site Reverb LP, said that this shift is partially a response to streaming services. At the same time, revenue from compact disc sales has steadily declined. According to data from eBay, a new vinyl record cost an average of $4.80 in 2007, and in 2017 it had gone up to $28.40, an increase of over 490%. While sales have gone up, prices have as well. Furthermore, there was an 18.5% year-over-year increase in sales of new vinyl from 2016 to 2017. ![]() Data provided to CNBC by eBay shows that sales of new and used vinyl have been steadily increasing over the past decade. But while the general public may not have anticipated a resurgence in LP sales, those who have been paying attention for the past few years likely aren't surprised. When the compact disc was introduced in 1982, it was billed as a technology that would render vinyl records obsolete. It showed that 80% of the of music industry's revenue comes from streaming, but it also showed that revenue from sales of vinyl records is on track to overtake that of compact discs by the year's end, should current trends continue. This past week, the Recording Industry Association of America (RIAA) released its mid-year report. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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