So it's probably little surprise that something else you never would have thought would happen happened, too: Vinyl records have outsold compact discs for the first time in 34 years, reports Bloomberg.
The latter is especially impressive, given the fact that quarantines throughout the USA have surely shut down numerous independent record stores that are the lifeblood of vinyl as a format. Since 2005, sales for vinyl have continued to grow.
Money spent on vinyl LPs and EPs came to US$231.1 million in the United States for the first half of 2020, easily beating the $129.9 million spent on CDs.
"It's hard to believe that four and a half months after Music From The Home Front first etched its moment in history, the long-awaited release of the triple vinyl album, together with the CD and downloads, returns this fantastic album back to #1 on the ARIA chart", said Mushroom Group boss Michael Gudinski. In all of 2019, vinyl sales accounted for $224.1 million worth of sales, which 2020 has already eclipsed halfway through the year. Physical earnings plummeted 23percent to $376 million, also at the first half of th eyear since the pandemic continues to stall audio business standards. Concerts and visits to music stores have all but disappeared.
Despite the stunted growth of physical sales, music streaming has continued to boom.
For streaming services only, more and more listeners are willing to pay to play.
The number of paid subscriptions increased 24% to more than 72 million on average. Streaming, that comprises the earnings of compensated streaming, ad-supported loading and streaming radio, climbed 12percent to $4.8 billion through the first six weeks of 2020, RIAA discovered.
It streams the dominant music format, accounting for more than 85% of the music industry's revenue.
So much, entire music industry earnings have risen 5.6 percent, largely driven by flowing, for a total of 5.7 billion during the first six months of the calendar year, independently.