In 2014, the demand for new music in the form of vinyl met hot and cold results. While the retail numbers are optimistic, production challenges stunt the growth potential of the LP. With the decline of music downloads and the rapid rise of streaming, however, the desire for a physical format is a clear-cut reflection of music consumer preference.
Back in November 2014, data journalist Felix Richter at Statista reported LPs, globally, reached $218 million in annual sales. If you compare that figure to the cost of a show at the 9:30 Club, it can be significant, but otherwise it is not influential to capital. Statista reported by the first half of the year, 4 million units sold. This month, the Wall Street Journal touted Nielsen’s reports of 9.2 million units moved, a 52 percent increase from 2013. The downside of this phenomenon: vinyl records only make up 2 percent of US music sales, despite the digital decline.
One of the champions of annual LP sales is Third Man Records, Jack White’s label. With his evengreen bent for self-promotion, White’s latest effort, Lazaretto, sold 40,000 vinyl copies in its first week and 87,000 cumulatively. White rallied his fanbase during Record Store Day when he recorded, pressed, and released the “boutique” album in less than four hours.
Last years sales were also boosted by artists such as Beck, Black Keys, Arctic Monkeys, and Lana Del Rey. Classic albums Abbey Road and Legend held their own in top 10 collective sales of LPs in the United States.