Vinyl makes a comeback amid streaming dominance
Revenues from CDs and vinyl sales were up 16% to $5 billion in 2021, according to the IFPI's annual Global Music Report.
Why it matters: It was the first time physical media grew in 20 years.
- CDs saw growth for the first time since the turn of the millennium (yes, the millennium).
- Vinyl's resurgence continued: The decades-old format saw its revenue grow by more than 50%, doubling its growth from 2020.
Yes, but: It's still very much a streaming world: The segment accounted for 65% of the overall revenues.
- In dollar amounts, that translates to $16.9 billion.
- Of that, 47.3% is from subscription services, while 17.7% comes from ad-supported streaming.
- Physical media's decline has been well chronicled, but just to give a sense of how much: In 2005, it accounted for 90% of the market; now it's just 19%.
By the numbers: The global recorded music industry tallied $25.9 billion in 2021 — its seventh straight year of growth.
- The other segments tracked include performance rights ($2.4 billion), downloads ($1.1 billion) and synchronization ($500 million).
- Downloads was the only segment that declined from 2020.