A renewed passion for LPs – with sales back to their highest levels since 1989 – has helped fuel our upscale streets. The number of independent record stores increased from 390 in 2020 to 407 last year
Latest figures have been revealed showing that the vinyl resurgence has seen LP sales rise to their highest levels in more than 30 years.
According to industry trade body BPI, music labels sold nearly £116 million in 2021, up more than a third in 2020 and double that in 2018.
A renewed passion for LPs – with sales back to their highest levels since 1989 – has helped fuel our upscale streets.
The number of independent record stores grew from 390 in 2020 to 407 last year.
The compact disc is also making a comeback, after being written down by many people.
Other formats, including cassette tapes, had a small comeback but their sales were minuscule compared to CDs and vinyl.
However, both of those are overshadowed by streaming, from which brands make most of their money.
According to the BPI, total UK music sales grew by almost 13 per cent to £1.26 billion last year.
Of that, streaming grew 13.7% to £837.2 million.
Geoff Taylor, chief executive officer of the BPI, BRIT Awards and Mercury Prize, said the impact of lower-margin streaming, as well as piracy, means last year’s revenue value remains lower. nearly £370 million more than in 2006, when inflation is taken into account.
“It is important to remember that, even today, we have not fully recovered from years of decline and in practical terms we are still a much smaller industry than we are,” he explains. 15 years ago.
“We’re calling on the music community to come together to further grow the market, for example by helping British music secure the largest possible share of streaming growth overseas.”
Best selling vinyl album of 2021
1. ABBA – Journey
2. Adele – 30
3. Fleetwood Mac – Rumor
4. Ed Sheeran – =
5. Amy Winehouse – Back To Black
6. Nirvana – Nevermind
7. Queen – The best hits
8. Lana Del Rey – Chemtrails Over The Country Club
9. Wolf Alice – Blue Weekend
10. Harry Styles – Fine lines
https://www.mirror.co.uk/money/lp-sales-surge-30-year-26473754 LP sales surge to 30-year high as labels rake in £116m from vinyl records