Vinyl Gets Its Groove Back

Last year, about this time, Time Magazine ran an article about the return of vinyl. (Time Magazine article)

Well, here we are one year later and I have seen all sorts of articles about the resurgence of the vinyl record. Let's look at the facts:

In 2008, sales of vinyl albums increased a remarkable 89 percent. Vinyl still accounts for a tiny portion of the overall market but total vinyl sales are higher than they’ve been since SoundScan began tracking music sales in 1991.

The previous record was in 2000, when 1.5 million LP albums were sold. More than two out of every three vinyl albums bought in 2008 were purchased at an independent music store, according to SoundScan. Vinyl record sales rose 14% between 2006 and 2007, from 858,000 to 990,000. In contrast, CD sales plummeted over the past three years, from 553.4 million in 2006 to 360.6 million in 2008. MP3 sales grew from 32.6 million to 65.8 million during the same time period, according to SoundScan.

Industry observers say vinyl record sales have skyrocketed because new buyers are discovering the value of owning albums, with their cover art, large liner notes and warm sound. Artists such as Madonna, U2 and R.E.M. have opted to release their latest albums in the vinyl format as well.

The top selling vinyl album in 2008 was Radiohead's In Rainbows, followed by the Beatles' Abbey Road, at 16,500 units. (side note: the Beatles placing second- didn't this band break up some 38 years (or more depending on who you ask), this is amazing and just shows what a truly legendary rock and roll group that they are and will be, way after we are all gone)

There is even quite a discussion going on at digg (digg discussion) with people raving about this phenomenon. Let's all hope it continues as vinyl continues its revival for years to come!!