Vinyl Sales Hit Unexpected Plateau in U.S. as Luminate 2024 Report Questions Indie-Retail Data
Vinyl sales data from 2024 presents a complex and potentially concerning picture for the format's continued growth in the U.S. market.
Record store interior with vinyl displays
The RIAA reported a 17% year-over-year increase in vinyl sales value for the first half of 2024. However, Luminate's full-year data shows a 1% decline in physical album sales volume (excluding independent retail sales), dropping from 56.2 million units in 2023 to 55.6 million in 2024.
Key findings from the 2024 data:
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Independent retail physical sales: 22.9 million units
- Vinyl: 17.3 million units
- CDs: 5.4 million units
- Cassettes: 165,000 units
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Total physical sales (including indie retail): 78.5 million units
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This represents a significant drop from 2023's 87 million units (8.9% YoY growth)
The discrepancy stems from Luminate's methodology change for calculating independent retailer sales in 2024. This new approach makes year-over-year comparisons difficult and raises questions about the accuracy of historical data.
Three possible explanations emerge:
- Previous years' data may have been inflated
- Vinyl sales could be genuinely declining
- Some independent retail sales may not be properly captured under the new methodology
The situation affects both independent stores and major retailers, as local record shops frequently sell mainstream artists like Taylor Swift. Further clarity is expected when the RIAA releases its complete 2024 annual report.
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