LONDON (CelebrityAccess) — Vinyl sales in the UK increased for the 16th year in a row and are now growing at the fastest rate in more than a decade, according to the British Phonographic Industry (BPI).
Vinyl sales grew from 2.9% in 2022 to 11.7% in 2023 on the strength of unit sales of 5.9 million, according to an analysis of sales data by the BPI.
The sales growth was led by new releases from artists such as Ed Sheeran, Lana Del Rey, Lewis Capaldi, The Rolling Stones, and Taylor Swift and was bolstered by a resurgence in music retail, both from independent record shops, as well as mainline retailers such as HMV, which re-opened its flagship store on London’s Oxford Street in November, four years after closing.
Additionally, sales of compact discs declined by the smallest amount in nearly a decade, with nearly 11 million CDs sold during 2023. Cassette tapes also continued to sell, with more than 100,000 units sold during the calendar year, the BPI said.
“Led by vinyl, the resurgence of physical product underlines the resilience of the UK music market at a time when streaming consumption continues to hit record levels. Whilst LP sales have now been on an upward path for the past 16 years, it is encouraging to see a stabilization in demand for CD, as well as new generations of music fans falling in love with the cassette. It is giving people more choice than ever in how they enjoy their favorite music,” said Dr. Jo Twist OBE, BPI Chief Executive.
