Update: Vinyl Record Sales Miscalculated by Billboards Report

Music News

Oct 16

Written By FP Team

Report incorrectly stated that vinyl sales have dropped to 33%.

Music News | Vinyl Records

Words by FP Team

SIM TUMAY/PITCHFORK

UPDATE: Luminate has clarified that the reported 33% drop in vinyl record sales in 2024 does not align with their methodology for calculating sales numbers, as stated by a representative in response to a report from Consequence.

It has been reported that there has been a significant decrease in vinyl record sales this year, with a drop of 33.3% according to the latest music consumption report by Billboard.

The report states that only 23.3 million vinyl units were sold, which is a reduction of 11 million units compared to the 34.9 million units sold in 2023. The report also highlights declines in other formats, including a 19.5% drop in CD sales and an 8.3% decrease in digital album sales. Overall, album sales have decreased from 75.5 million units in the previous year to 57.5 million units this year, marking a 23% reduction.

This decline in vinyl sales comes as a surprise, considering that record sales have been on the rise over the past decade. Just three years ago, vinyl LP sales reached a new 30-year high when 2.11 million records were sold in the week ending December 23, 2021.