news Vinyl Sales Drop 33% in 2024 — Is the Vinyl Boom Finally Over?

[Music Info]

Vinyl sales have dropped a dramatic 33.3% in 2024, declining from 34.9 million units in 2023 to just 23.3 million, according to Luminate. This downturn isn't limited to vinyl alone; CD sales have also dipped 19.5%, while digital album sales have dropped 8.3%. Overall, album sales across all formats have fallen 23.8% year-over-year.

Album Consumption Units By Format​

Format	2024	2023	Change
CD	21M	26.2M	-19.5%
Vinyl	23.3M	34.9M	-33.3%
Digital	12.9M	14.1M	-8.3%
Other	290K	407K	-28.8%
Track Equivalent	9.3M	10.6M	-12.3%
Audio-On-Demand Eq.	747M	697M	7.2%

Rising vinyl prices seem to be a big factor. With records now costing $40-$50, many consumers are opting for streaming services like Spotify and Apple Music, which offer more affordable alternatives. Pandemic-related supply chain issues and rising costs of materials like PVC have further driven up production expenses, leaving little room for price cuts.

The nostalgia-driven vinyl boom may also be slowing down. Casual listeners are returning to streaming, and collectors are becoming more selective. Constant album variants might be causing consumer burnout—Taylor Swift, for instance, released 34 versions of The Tortured Poets Department. While it led 2024 sales, some fans are getting tired of buying new versions for small extras. Even Billie Eilish has criticized the trend as “wasteful.”

Despite these challenges, The Tortured Poets Department sold 2.474 million copies in the first half of 2024, while Billie Eilish’s Hit Me Hard and Soft and Beyoncé’s Cowboy Carter took second and third, respectively. However, as costs continue to rise and vinyl fatigue sets in, the format’s future may hinge on whether collectors find the price—and the hype—worth it.

Source: https://www.digitalmusicnews.com/2024/10/15/vinyl-sales-plummet-33-year-over-year-2024/

 

[Harsh World]

Every time I visit the used shops here, the vinyl section calls my name. I don't have a record player, but I do understand appreciating value. If records can appreciate in value, and also give me a new sound to what I already like, I might just start picking up a few LPs here and there.

The last two times I went to a used store, I saw an Eminem record and was going to grab it for about $20. However, by the third visit when I had finally made up my mind to get it, it was gone. That would've been the start of my collection if I just listened to my gut the first time.

I still spend about 10 minutes shuffling through the records to see what there is. The next time something catches my eye, I'm definitely going to pick it up as this doesn't say that vinyl is going away, but that it'll only become more valuable to collectors in the future. And, after my passing, if I have certain records, that could mean cash money for my family.

 

[Reelz]

Wow, those are the discs which were so popular with our parents and grandparents. It was so popular back in the day for listening to music. I’m surprised that at some point, consumers went back to buying them. But not too surprised that the numbers are dwindling and that is because of more advanced tech that gives convenience when listening to music.

 

[Harsh World]

I’m surprised that at some point, consumers went back to buying them.

Vinyl was huge at clubs here in Japan. From what I can recall, you couldn't go to a club that didn't have a DJ mixing with vinyl from around 2005-2015.

But not too surprised that the numbers are dwindling and that is because of more advanced tech that gives convenience when listening to music.

After that, I started noticing more DJs using MacBooks and electronic turntables to mix what seemingly looked like digital music (MP3s?) with the same style of turntables that were just spinning discs, controlling two different sounds (or songs) to mix between, that were on the MacBooks. I'm unsure what software the turntables were controlling to mix the songs though.

Classic vinyl turntables essentially turned into computer peripherals to mix two songs on the computer.

You can't get that classic "scratch" sound, that I know of. Perhaps there is software that can add the scratch, but it just wouldn't sound the same, the music to the scratching, as the MP3s are much cleaner sounding than what you can get from vinyl in the first place, and the scratch would just be a soundwave.

There are still a few small bars/clubs that have vast record collections behind their DJ booth and still actually use them. Notably, a popular bar owned by wife's brother, who is also a DJ, has at least 3 or 4 shelves spanning 10 feet of just vinyl, one record right after another — using simple math to guess how many records that is, it'd be about 500 per shelf or 1500-2000 records in all; he has probably about that in records at his house too. Surprisingly, he's able to find a song at request without any labeling as he's been doing it for so long. When and if he calls it quits, I might try to buy out his collection, if the new owner would want to modernize.

 

[1stop]

I think the drop is because people are listening to music on their phones or computers Or perhaps it’s just because there is less money to spare now because of rising costs due to inflation.

 

[Immortal]

With the popularity of smartphones, I think there will be a day when the music companies will stop producing physical copies of music. I have not bought CDs for ages, never bought a Vinly.