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And the beat goes on: Can vinyl turn around the music business?

2014 was a terrible year for music sales, with figures dropping in CD and digital downloads. But ...
Newstalk
Newstalk

16.39 5 Jan 2015


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And the beat goes on: Can viny...

And the beat goes on: Can vinyl turn around the music business?

Newstalk
Newstalk

16.39 5 Jan 2015


Share this article


2014 was a terrible year for music sales, with figures dropping in CD and digital downloads. But the last 12 months have proven great for vinyl.

According to Nielsen SoundScan, vinyl sales hit 9.2 million – a colossal 52 percent jump on figures for 2013. In fact, 2014 proved to be the biggest year for vinyl sales ever since SoundScan started keeping tabs on sales in 1991.

While it’s easy to pass this off as just a bump in the market by hipster trends, the huge sales are good news for the music industry, regardless of who is doing the buying. The industry hasn’t yet figured out how to respond to the increasing dominance of streaming sites like Spotify – paid download sales fell from 1.26bn to 1.1bn last year.

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Streaming’s growth was even stronger than vinyl sales: a 54 percent bump saw 164bn songs listened to in 2014.

But the black spinning discs may just be the great white hope of the music industry. Back in 2007, vinyl sales were just scraping one million units, now they’re nine times that.

Based on US figures, the biggest selling album of 2014 was Taylor Swift’s 1989. This was followed by the official soundtrack to Frozen and That’s Christmas to Me, an album of holidays songs by the a cappella group Pentatonix.

(H/T: Wall Street Journal)


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