Global Vinyl Sales Show Signs of Slowdown: U.S. Growth Hits 1% as Market Signals Plateau
After nearly two decades of consecutive growth, vinyl record sales are showing signs of potential plateau in 2024, though the format continues to demonstrate resilience in the modern music market.
Vinyl record spinning on turntable
According to RIAA data, U.S. vinyl sales grew for the 18th consecutive year in 2024, with revenue reaching $1.44 billion (up 6.9% YoY). However, unit sales increased only 1% to 43.6 million units, marking the smallest growth since 2016.
Key Statistics:
- 158% increase in vinyl units shipped between 2015-2024
- 67.3% jump between 2020 (23.7 million) and 2021 (39.7 million)
- 2024 sales remain 2.3 times higher than 2019 levels
Global Performance:
- 4.6% worldwide revenue growth in 2024
- U.K.: 2.9% growth ($189 million)
- Italy: 6.8% growth ($42 million)
- Spain: 3.8% decline ($36 million)
Despite slower growth rates, vinyl's continued expansion is remarkable considering streaming's dominance and higher price points. The format maintains strong appeal among artist superfans and collectors, suggesting resilience rather than decline.
Music market share in EU countries
While the data indicates a potential plateau, vinyl's sustained growth streak and substantial market presence suggest the format remains viable in today's digital-first music landscape.