First published on http://www.channelnews.com.au/
According to JB Hi Fi executives the demand for vinyl is being created due to “retro being in” and the quality sound output that vinyl records deliver over digital MP3 files.
Nielsen SoundScan measures music sales while Nielsen BDS tracks music streams. New sales data reveals that overall album sales, including physical and digital media, are down 14.9 percent in the first six months of 2014, with digital album sales down 11.6 percent.
Vinyl LP sales rose 40.4 percent to 4 million, the numbers still pale in comparison with the 62.9 million CDs sold and the 53.8 million digital albums.
The number of CD albums sold fell 19.6 percent to 62.9 million, getting closer than before to the number of downloaded albums.The number of on-demand music-only streams rose 50.1 percent to 33.7 billion, and the number of on-demand music-video streams rose 35.2 percent to 36.6 billion, for combined growth of 42 percent to 70.3 billion.
“Streaming’s 42 percent year-over-year growth and vinyl LP’s 40 percent increase over last year’s record-setting pace shows interest in buying and consuming music continues to be robust, with two very distinct segments of the industry expanding substantially,” said Nielsen Entertainment senior VP David Bakula. Nielsen developed the statistics by tracing music sales at the point of sale point-of-sale and tracking music streams.