New data from Entertainment Retailers Association (ERA) shows that rapid increases in vinyl album sales revenue are quickly making it one of the most popular forms of physical entertainment in the UK.
This figure has increased from £72.1 million at this time last year, showing that the popularity of vinyl has increased very recently.
In the same time frame, Playstation 4 and 5 games sales have increased, but only to £79.6 million from £74.7 million in 2021.
The only physical entertainment format that has generated more sales revenue than vinyl albums was Nintendo Switch games – however, Nintendo Switch games sales are down 12.5% year-on-year while vinyl sales are up 12.2%.
“Vinyl’s rise and rise seems unstoppable”, says ERA CEO Kim Bayley. “For a 74-year-old analogue format to eclipse the digital-age technology of games platforms is quite extraordinary. Ten years into its long climb back to favour, the vinyl revival is most definitely here to stay”.
CD sale revenue has dropped by 8.1% since 2021, to £68.9 million so far in 2022. Vinyl albums have therefore brought in £12 million more in 2022 than CD albums.
This data joins a slew of other research highlighting the recent popularity of vinyl in the UK.
Separate research conducted by The Royal Mint also found that 32% of all vinyl collectors in the UK reside in Glasgow, which beats the entire North-East region of England — which has 25% of all vinyl collectors.
In December 2021, it was reported that vinyl sales in the UK reached their highest level in 30 years, surpassing five million for the first time since 1991, thanks to albums by Adele, ABBA, and Ed Sheeran.
Sales were up 8% over 2020, marking the format’s 14th straight year of growth.
Originally reported by MixMag.