Continuing a 16-year growth streak.
Photo credit: Florencia Viadana on Unsplash
According to a report from The British Phonographic Industry (BPI), vinyl sales in the UK have reached their highest level since 1990, continuing a 16-year streak of growth.
In 2023, 5.9 million vinyl records were sold, marking an 11.7% increase compared to the previous year, making it the fastest growth of the decade. The report also highlights that 40% of the top 100 vinyl LPs were from British artists, including Depeche Mode and Blur.
Pop star Taylor Swift dominated the official vinyl artist albums chart in 2023, with three of her albums securing top positions. This trend follows the previous year’s findings that one in every 25 vinyl albums sold in the USA was a Taylor Swift LP.
The BPI’s report also shows that streaming has grown significantly in 2023, accounting for 87.7% of the market. The UK’s music streaming market reached 179.6 billion streams, which is a 12.8% increase compared to the previous year and almost double the total from five years ago.
The resurgence of vinyl comes at a time when pressing plants are facing shortages due to major labels dominating the market. This has also led to the closure of independent record shops, making mainstream music more accessible.
Find the full report of The British Phonographic Industry (BPI) here.
