Video may have killed the radio star, but it looks like CDs only put a dent into vinyl.
For the first time in almost 30 years, vinyl records have sold more than CDs.
The Recording Industry Association of America released a report recently that said vinyl records had $232.1 million in music sales for the first half of 2020. CDs accounted for only $129.9 million, CNN reported.
While the sales of vinyl had slowed after cassettes and CDs became the preferred method of listening to music, the sale of records have been climbing since 2005.
But while it is good news for vinyl sales, the sales of physical music products are still slumping.
Streaming has grown to $4.8 billion for the same timeframe, which is a 12% increase from last year.
The music industry overall, across all formats, has continued to grow, earning $5.7 billion for the first 6 months of 2020, CNN reported.
Cox Media Group
