Vinyl
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Tomorrow comes the most wonderful time of the year: Record Store Day. As fun as some fans find it – and I joke that it’s my favorite holiday – it’s hard to remember how odd an idea it seemed when it started, in 2007. Back then, CD sales were sliding fast, download sales were growing a lot slower, and mass-market streaming was still taking shape. The idea of a day devoted to buying vinyl, much less in physical stores, was anything but obvious.
Now look. Vinyl generated more revenue in the U.S. than CDs by 2019, and more unit sales by 2022, according to the RIAA. Last year, vinyl generated $1.2 billion in the U.S. — more than Latin music, which brought in $1.1 billion, although Latin music brings in far more worldwide. And much of this growth came at a time of serious challenges, from insufficient manufacturing capacity to supply chain problems.
Now what? The future of vinyl was one subject that came up at a Nov. 3 panel that I moderated at RIAA headquarters in Washington, D.C. With me were Vinyl Me Please CEO Cameron Schaefer, Byrdland Records co-owner Alisha Edmonson, Thirty Tigers director of physical sales Mike Couse and consultant Simone Piece.
Among the topics that came up:
How vinyl fulfills a need for “better connection with music”
How the pandemic supercharged growth
Whether recent new buyers will stick around for the future
The most important question, of course, is what this means for artists. It was disheartening to hear that delivering vinyl to stores even close to an album’s release date requires up to ten months of advance planning. Even so, many independent acts make more money on vinyl than they do from streaming.
Another highlight? A performance from Lola Kirke:
No one knows what the future holds for vinyl. Judging by the format’s fast growth, however, it will remain an important part of the recording industry’s revenue mix for at least the next few years, and perhaps long after that.
Watch the entire panel here:
This week, Lana Del Rey released her ninth straight top 10 album on the Billboard 200, with Did You Know That There’s a Tunnel Under Ocean Blvd debuting at No. 3 on the chart. But it was the manner of that debut that caught the eye: of the 115,000 equivalent album units the record racked up in its first week, 58,500 units were vinyl — the biggest vinyl sales week of the year so far and the best of her career, with it also available on CD and cassette. And the remainder of the sum equated to some 36.14 million on-demand streams, the biggest streaming week of her career, to boot.
That success was no accident: the singer has always sold well at the vinyl format, according to her label Interscope Geffen A&M, and the label and her management team at TAP prioritized the format, as well as the other sales variants, in order to have them available the day the album came out, resulting in the big sales week. And that strategy helps earn Interscope Geffen A&M chief revenue officer and global head of streaming and strategy Gary Kelly earn the title of Billboard’s Executive of the Week.
Here, Kelly breaks down what went into the big vinyl and sales week for Lana Del Rey, as well as how that major streaming activity helped play into the overall success of the album. “We always like to begin with what the demands of the fans are,” Kelly says. “This is what you see here, so every music product we created was based on our insights for what the fans would want to own.”
This week, Lana Del Rey’s Did You Know That There’s a Tunnel Under Ocean Blvd debuted at No. 3 on the Billboard 200 with 115,000 equivalent album units, with vinyl making up 58,500 units — the best vinyl sales week of the year so far and best of her career. What key decision did you make to help make that happen?
Lana has been at the forefront of the vinyl resurgence, so our strategy was based on years of historical data and her overall growth with the Gen Z audience, who we know love vinyl to listen to and also to show their fandom. The Interscope revenue team worked closely with [her management team] Ben [Mawson], Ed [Millett] and Wendy [Ong] at TAP Management to ensure the album was delivered in time to ensure we had the master and the packaging in time to deliver for street date.
The album had six vinyl variants, with several exclusives available in different stores. How did you develop that strategy and how did you see it pay off?
On previous releases we had productive campaigns with partners like Target, indie retail, Amazon and Urban Outfitters. We looked at that historical data to determine the best path for Lana’s new project.
Have production delays for vinyl gotten easier, or does it still require long lead times? And how did you navigate that?
The supply chain issues that we experienced at the height of the pandemic are improving and we were able to manage inventory to ensure that we had plenty of the vinyl. Long lead times however still exist, but Universal Music Logistics has done a good job turning around reorders quickly. That helped tremendously, as some of the initial allocations sold out and we had to re-run additional inventory that arrived in time for street date. That would not have been possible in 2021 or 2022.
The album was also released through nine different CD variants, and also five different cassette versions. Why lean so much into those formats?
We always like to begin with what the demands of the fans are. This is what you see here, so every music product we created was based on our insights for what the fans would want to own.
The debut also marked the biggest streaming week in Lana Del Rey’s career. How did the streaming and sales strategies dovetail and feed off each other?
Lana having the largest streaming week of her career is tied to her making a brilliant album. She is a true artist and she pushes boundaries with every new project. New fans and audiences are catching up to her. That said, we look at streaming and sales audiences as having overlap, so when we launched the preorder and first single in December, we were driving pre-sales, but also driving fans to listen on the DSPs.
We had Lana in our Santa Monica recording studios in January and while listening to the album, there was a general feel from the marketing, digital and revenue teams that “A&W” would be the ideal song to release to further connect the streaming audience and pre-sales. It worked perfectly as the song reacted incredibly well with fans across the world and drove a substantial number of preorders. In fact, preorders jumped around 20%, which is unusual given that we had already amassed thousands of preorders because they had been available for almost three months by that point.
The album also reached No. 1 in the U.K., Australia and several other countries around the world. What was the global strategy with regards to this release?
We worked with Ben Mortimer, Stephen Hallows and the rest of the Polydor team to craft an in-depth global strategy with the UMG teams across the world. The Interscope international team did a great job working with the local affiliates to ensure the best plans were in place and executed. The results show how deeply connected we were with all of them between DSP campaigns, physical partner campaigns along with our direct relationship with fans across the world with our D2C strategy.
Do you see the future of physical sales as being more merch item or niche consumer product?
Most of the physical music products are built for segments of the fans that want to own something from their favorite artist to show off their fandom. That said, I do not see these as niche as much as reflective of what these fans want. Will those tastes change in the coming years? That most likely will be the case and we will want to adjust what we, and the artist, create to match fan interests and preferences.
Previous Executive of the Week: Joseph Oerke of Decca
On March 4, hundreds of metalheads stormed into Pierce the Veil’s pop-up store in Glendale, Calif., scooping up T-shirts, hoodies and other merchandise. In the process, they helped boost sales for an ostensibly dying product: compact discs. “Kids would look at the display and pick every single one of our records on CD,” says Michele Abreim, the band’s manager. “It definitely felt like CDs were a merch item, not just a means to listen to music.”
A relic of the record industry’s pre-Napster boom period thanks to megastars like *NSYNC, Britney Spears and Eminem, U.S. CD sales accounted for $13.2 billion in 2000, their peak year, according to the RIAA. But though the format has been in steady decline throughout the streaming era, retail, manufacturing and management sources say the digital discs have gained in popularity as keepsakes. More portable than vinyl albums and less affected by manufacturing delays due to supply chain issues, CDs are once again becoming merch table mainstays, and in the first 10 weeks of 2023, sales are up slightly over the same period last year, according to Luminate — 6.8 million in 2022 to 6.9 million, a 2.5% increase.
This growth could be a sign of a growing coolness factor, similar to the unexpected, and sustained, vinyl revival that began in the early 2000s, which is fueled by limited-edition releases pressed on colored vinyl and other bells and whistles. Taylor Swift took a page from that playbook when she put out Midnights CDs in different collectible colors last year, and BLACKPINK is among the many K-pop acts to sell elaborate CD box sets.
“There are ways to do CDs that are incredibly impactful,” says Carl Mello, brand engagement director for Newbury Comics. “You can get more revenue out of it, so it’s not like a ‘Will this do $7.99?’ thing. You’re selling a $30 thing that a customer will be really happy with.”
Bill Wilson, senior vp of operations and innovation for MNRK Music Group, which oversees 50 independent labels, says specialized CD-buying audiences are keeping the format afloat. “There are still pockets and subgenres of music [fans] — like metal — who like holding and cuddling CDs — and they’re not vinyl collectors,” he says.
For those who can’t afford box sets or to spend upwards of $20 for a standard-issue vinyl album, “the CD is a much more budget-friendly item,” says Tony van Veen, CEO of New Jersey-based vinyl/CD manufacturer Disc Makers, who crunched the latest RIAA sales data and found that vinyl album prices rose last year by 13.5%, to $29.65, while CD prices went up 15.3%, to $14.45. “Music fans are deciding with their wallets.” He adds that his company’s CD sales stabilized in 2022 after years of decline.
CDs are generally far cheaper than vinyl albums — especially classic-rock catalog releases, which labels occasionally put on sale in the format. Creedence Clearwater Revival’s Chronicle: The 20 Greatest Hits goes for $13.99 on Amazon, compared with $28.31 for vinyl; a Foo Fighters Greatest Hits CD sells for $11.49, slightly more than half the $21.91 vinyl price.
Although pandemic-related manufacturing delays for vinyl are easing, they have prompted touring acts to stock their merch tables with CDs. “I had a conversation with somebody yesterday, and they’re about to go on tour,” says Ric Sherman, owner of The Production Department, a consulting company that works with artists, labels and record plants. “Trying to get vinyl on time was impossible, and they defaulted to CDs immediately.”
The profit margin for vinyl albums is slightly higher than CDs — a $15 CD would yield roughly $13.50 in profit; a $30 vinyl album, $15 — but Sherman adds: “Vinyl’s expensive to manufacture.” According to van Veen, 100 CDs cost $150 to manufacture, compared with $1,500 for 100 vinyl albums.
“If artists are touring, it’s easier to cart those around than vinyl,” says Mello. “There are utilities to it, for sure.”
Despite the small sales uptick so far in 2023, the 20-year decline in CD sales shows no sign of dissipating: Sales dropped from 40.6 million units in 2021 to 35.9 million last year, an 11.6% decrease, compared with a 4.2% rise in 2022 vinyl sales, according to Luminate. (That said, vinyl’s sales growth has slowed considerably from the 51% increase it logged in 2021.) Major labels are also reluctant to bet on CDs to drive significant revenue in the future. Says a major-label source: “I haven’t heard of the idea that somebody’s so committed to buying a physical product that they’re just going to move over to the CD if they can’t get a vinyl product.”
Then again, 35.9 million in annual sales is not nothing, and CDs will probably be around for a long time. “They’re highly valued and sought-after,” Mello says.
All products and services featured are independently chosen by editors. However, Billboard may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.
Now that spring has sprung, it’s a good time to start cleaning up your collection of vinyl records. It’s no secret that vinyl records are hotter than ever, and regardless of whether you have a huge record collection or a small one, it’s good to keep them clean and organized.
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Just like any other forms of physical media, vinyl records need to be kept clean so that they work properly. Fingerprints, dust and scratches can damage the surface of the record itself, which can diminish the sound and add unwanted noise. Even natural oils from your hands can erode the surface of your vinyl records.
When it comes to cleaning your vinyls, there are special solutions, vinyl record brushes and cleaning kits that are designed to keep your records in pristine shape. For example, the Vinyl Buddy record cleaning kit ($20) has a near-perfect customer rating on Amazon and you’ll get a lot of items for a decent price.
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Amazon
Vinyl Buddy Record Cleaner Kit 5 Piece Ultimate Cleaning System – Velvet Brush – Nylon Microfiber Brush – Stylus Brush – LP Cleaning Solution – Storage Pouch
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The five-piece kit comes with a velvet brush, microfiber brush, stylus brush, cleaning solution and a storage pouch. The Groove Washer Walnut Record Cleaning Kit ($39.95) is another favorite of music lovers.
For something easier and possibly cheaper, depending on what you already have around the house, you can always go for Simple Green All-Purpose Cleaner and water. Not familiar with Simple Green? It’s a natural, all-purpose cleaning solution that works on just about everything. From surfaces to soft carpets, Simple Green is designed to remove direct grease and stains on countertops, floors, fabric, equipment, vehicles and more. And it’s gentle enough to use on your vinyl records.
Simple Green retails for about $2-$5 for a 32-ounce spray bottle and around $10 for a gallon. You can get it at Amazon, Walmart, Home Depot, Lowe’s and other retailers.
To clean your vinyl records, grab a microfiber cleaning cloth to remove the dust and static from the record. Next, dampen a clean microfiber cloth (preferably with distilled water) and lightly wipe the record surface in a circular motion — but steer clear of the middle of the record. Next, add a splash of Simple Green (the company recommends a 1:30 ratio) to a bowl of water and clean the record following the same circular motion as the earlier steps. Lastly, grab a dry microfiber cloth to dry the vinyl record (you can also use compressed air to blow away any residual dust).
After your record is clean, all that’s left to do is enjoy the music! Just make sure to check the needle on your record player so that there’s no leftover dust particles that could distort the sound. For additional shopping recommendations check out our list of best record players and turntables, best speakers for music lovers and storage options for your music collection .
Metallica has always had a strong independent streak for a band that spent its formative years on a major label. Now, a decade after getting the rights back to their biggest albums, the band is buying Furnace Record Pressing, a plant in Alexandria, Va., to serve its vinyl business, which has grown by keeping catalog albums in print and releasing ambitious box sets aimed at its legions of hardcore fans.
For a decade, Furnace has pressed records for the band, which has a reputation for releasing high-quality vinyl. At a time of supply-chain issues and manufacturing delays, the plant helped the group keep most of its albums available, plus a growing number of ambitious box sets. (Its most recent “black album” box set includes a double LP of the album, three live LPs, 14 CDs and 6 DVDs.) Last year, the group pressed more than 902,500 pieces of vinyl for more than 620,000 packages, according to management, not all of which are made at Furnace. The band sells roughly half of these in the U.S.
“We couldn’t be more happy to take our partnership with Furnace,” and its founders “to the next level,” said Metallica drummer Lars Ulrich in a statement. James Hetfield, the singer-guitarist who co-founded the band with Ulrich, said that the plant had been “great to Metallica and more importantly to our fans,” and that the purchase would ensure that potential vinyl buyers “will have continued access to high quality records in the future.”
Those fans are already buying a good deal of vinyl. In 2022 and 2021, Metallica rated among the best-selling acts on vinyl in the U.S., according to Luminate – No. 6 in 2022, with 387,000 albums sold and No. 7 in 2021 with 337,000 sold. That’s especially remarkable for a brand that hasn’t released a new album since 2016. (In 2022, the group’s most popular release was Master of Puppets, which sold 91,000, followed by “the black album” and Ride the Lightning.) In most years, the U.S. accounts for roughly half of the group’s vinyl sales worldwide.
“Metallica over-indexes dramatically with physical product,” says Marc Reiter, who helps run Blackened Recordings, the band’s label. “The fans enjoy owning the physical product.”
Although the band hasn’t released a new album since 2016 – the new album, 72 Seasons, comes out April 14 – there’s plenty of product out there. The band regularly releases box sets devoted to their albums, most recently Bob Rock-produced “black album,” and does a good job keeping in print its older releases.
Its relationship with Furnace, which goes back almost a decade, has been part of that. “The catalog is always being pressed,” says Brant Weil, head of marketing at Q Prime, the band’s management company. A couple of years after the band got back the rights to its older albums, its management team realized that it needed a steady supply of vinyl that could live up to the bandmembers’ high standards.
Furnace, which then also brokered vinyl pressing capacity at other plants, arranged a deal with Pallas, a German pressing plant with a reputation for high-quality work, and Q Prime was able to arrange to essentially lease its own presses there. “We never want to be out of stock on Metallica vinyl,” Weil says. “I didn’t want our release plans to be dictated by manufacturing timelines.”
At that point, “any vinyl shortages ceased to be,” Reiter says. Eventually, as Furnace started pressing more records itself, they started pressing more for Metallica as well.
Gradually, the two companies grew close. “We looked at them as more of a partner than a client,” says Furnace found CEO Eric Astor. (As it happens, the first record Furnace worked on was the 2008 re-release of “the black album” as an audiophile edition.) Furnace, like Pallas, has a reputation for doing quality work at a time when some pressing plants have sacrificed quality for output. “We’d rather throw out some bad records than make as many as we can,” says Furnace COO Ali Miller. (Discarding some vinyl is a factor in quality control.) Furnace has been pressing copies of the band’s forthcoming album, 72 Seasons, since January.
Furnace will not change much, Astor says, and plans call for the plant to keep working on other projects, as well as ones for Metallica. “They want to keep the quality and service the whole industry,” Astor says. “It will give us the opportunity to invest more.”
The hope is that Furnace can grow – as both a partner to the band, as well as an investment the group and its team have come to understand well. “They have the same indie spirit we have,” Reiter says, “and they like doing things the right way, which is also the Metallica way.”
LONDON – Vinyl sales generated more money for record labels and artists than CDs for the first time in more than three decades in the United Kingdom last year, helping drive a 4.7% rise in overall music revenue, according to annual figures from labels trade body BPI published Thursday (March 9).
In 2022, sales of vinyl LPs climbed 3.1% year-on-year in the U.K. to £119.5 million ($142.4 million) and now account for over half (55%) of all trade revenues from physical sales. The last time vinyl revenues eclipsed CD sales in the United Kingdom, BPI says, was in 1987 when Michael Jackson’s Bad was the year’s best-selling album and Rick Astley had the best-selling single of the year with “Never Gonna Give You Up.”
In total, 5.5 million vinyl LPs were sold in the United Kingdom last year. That marks the highest level of vinyl purchases in the country since 1990, according to BPI figures released in January measuring music consumption. The best-selling vinyl titles in the U.K. in 2022 were Taylor Swift’s Midnights, Harry Styles’ Harry’s House and Arctic Monkeys’ The Car.
Despite the ongoing vinyl revival, overall revenue from physical formats was down 10.5% to £216 million ($258 million), with CD sales slipping 24% to £89 million ($107 million).
Offsetting that decline was 6.3% year-on-year growth in streaming revenues, which climbed to £885 million ($1 billion) and accounted for 67% of U.K. recorded music revenues in 2022 — up from 66.2% the 12 months prior. Vinyl sales made up 9% of the market in terms of annual trade revenues, while CDs accounted for 7%.
Breaking down streaming revenue, paid subscriptions generated £763 million ($910 million), up 4.8% on 2021, while ad-funded revenue grew by more than a fifth (22%) to £63 million ($75 million). Digital download sales fell 17.5% to £28 million ($33 million).
Synch revenues were up even more sharply, rising 39% year-on-year to £43 million ($51 million), while public performance income spiked 23% to £143 million ($170 million).
Total U.K. recorded music sales — comprising digital and physical revenues, public performance rights and synch — climbed 4.7% to £1.32 billion ($1.57 billion) in 2022. That marks a rise of 36% over the past five years, according to BPI, as well as the eighth-consecutive year of growth.
The United Kingdom is the world’s third biggest recorded music market behind the United States and Japan with sales of just over $1.8 billion in trade value, according to IFPI’s 2022 Global Music Report. (BPI’s year-end sales figures are based on pound sterling, rather than the far stronger U.S. dollar, hence the perceived decline in overall revenues when BPI’s figures are converted into dollars at a constant currency basis).
“2022 was another great year for British music, but we must guard against any complacency in the face of growing challenges and keep promoting and protecting the value of music,” BPI chief strategy officer and interim CEO Sophie Jones said in a statement. She also called upon the U.K. music community to work together to “create the impetus” for further growth and “futureproof the success of British music in an increasingly competitive global music market.”
As previously reported, British artists accounted for the top 10 biggest-selling singles in the U.K. last year (either as the lead or as a featured artist) for the first time since year-end charts were introduced more than 50 years ago. Leading the pack was Harry Styles’ “As It Was,” which topped the U.K. singles chart for 10 consecutive weeks (it also spent 15 weeks atop the Billboard Hot 100) and was streamed more than 180 million times in the country.
Joining Styles in the U.K. top 10 was Ed Sheeran, Cat Burns, Glass Animals, Lost Frequencies & Calum Scott, LF System, Sam Fender and Kate Bush, whose 1985 track “Running Up That Hill” spent three weeks at No. 1 following its high-profile Stranger Things synch; it was streamed 124 million times in her home country last year.
Styles also landed the year’s best-selling album with his third studio set, Harry’s House, making him the first artist to have both the United Kingdom’s top single and top album since Lewis Capaldi in 2019. Sheeran’s = (Equals) and Swift’s Midnights were the year’s second and third-best-selling albums.
On Thursday (March 9), the RIAA released its annual year-end report on recorded music revenues in the U.S., with an encouraging top line: In 2022, total revenue was up 6% to $15.9 billion, with paid subscription and wholesale revenues each surpassing $10 billion for the first time. That marks the seventh straight year of growth for an industry that at this point is far removed from the doldrums of the early part of the century.
In fact, the industry could credibly be a little underwhelmed by the rate of growth, as the 6% figure is the lowest percent increase across those seven years — and the only time other than pandemic-affected 2020 (+9.2%) that growth has fallen below double digits during that period. In actual figures, it’s the smallest increase ($900 million) year over year since 2016, when the business grew 11.4% and added $700 million.
There are plenty of other interesting takeaways to discern from digging through the RIAA’s report. Here are four (plus one bonus item!) that stand out.
Paid Subscriptions — Anything to Worry About?
Both the average number of paid subscribers (those subscribing to full-catalog services like Apple Music or Spotify’s paid tier) and the revenue from full-catalog paid subscriptions grew at much slower rates, both in percentage terms and in actual numbers, than in recent years. The former metric showed an increase of 8 million subscribers (9.5%; 84 million in 2021 to 92 million in 2022), while the latter metric reflected an increase of $600 million (7.2%; $8.56 billion to $9.17 billion). As with the overall growth rate for the industry, that’s the first time in several years that those figures grew by less than double-digit percentages. So, is it anything to worry about, when looking at how much growth there is left in the paid streaming business?
Not necessarily. For one thing, between 2018 and 2022, paid subscribers (up 96.2%) and revenue from full-catalog subscriptions (up 93.6%) have grown fairly in line with each other, and the revenue per subscriber has averaged $98.92 over that period of time (pandemic-affected 2020 was an outlier year, at $92.35). In 2022, the average revenue per subscriber was $99.77, which was down from $101.94 in 2021 but not out of line with the overall average.
That number should be expected to grow, given price increases by Apple Music, Amazon Music and Deezer in the past year and the increasing pressure on Spotify to boost its price higher than $9.99/month, where it has stayed since entering the U.S. in 2011. This will be something to keep an eye on as the year progresses, as strategies shift from gaining subscribers to getting more out of those who do subscribe, given that a ceiling on the number of subscribers could be coming into view (for context, the U.S. government counted 124 million households in the latest census).
Another reason for optimism: The above numbers don’t include limited-tier subscription revenue — things like Amazon Prime and fitness apps like Peloton — which crossed the $1 billion mark for the first time in 2022. Since 2020, when the pandemic led to a home fitness app craze and resulted in additional areas of limited music subscription beyond the traditional paid streaming realm, limited-tier subscription revenue has grown 47.7%. As more licensing opportunities arise, that sector should continue to contribute meaningful revenue moving forward.
Ad-Supported Streaming Takes a Hit
Ad-supported on-demand streaming revenue reached $1.8 billion in 2022, accounting for 11% of the overall revenues for the business last year. But growth was just 5.5% over 2021 — a big reality check after the category grew 46.7% in 2021 over pandemic-affected 2020 and 16.4% at the mid-year mark of 2022. Even in 2020, when the world essentially came to a standstill for several months, year-end ad-supported streaming revenues grew 16.8%, up $170 million — higher than the $95 million gain seen in 2022.
The advertising slump last year was certainly a blow to U.S. industries, with layoffs across the music and tech landscapes in particular. Many companies cited “economic headwinds” due to a combination of factors, including the war in Ukraine, rising interest rates, inflation and the threat of recession as companies scaled back spending that had ballooned coming out of the pandemic and readjusted forecasts for an uncertain future. All of that certainly played a part. But since 2018, ad-supported on-demand streaming revenue grew 137%, becoming an increasingly large part of the overall pie. In comparison, 5.5% is likely a disappointing number to many in the industry.
Vinyl, Vinyl, Vinyl
Another year, another big headline involving vinyl’s 16-year winning streak: For the first time since 1987, the number of vinyl LPs sold in the United States (41 million) surpassed the number of CDs sold in the calendar year (33 million). Vinyl sales reached $1.2 billion in 2022, up 17.2%, while CD sales plummeted once again, decreasing 17.6% to $482 million. Despite the eye-popping vinyl revenue numbers, however, actual unit sales only rose 3%, meaning that the price of vinyl is getting more expensive. In 2021, the average vinyl record cost $26.12; in 2022, that number rose to $29.65. There’s plenty to unpack there, including increased production costs and inflation.
Another notable development in the vinyl craze that has sharpened in recent years is the shifting market share among vinyl retailers. As far back as 2015, when the industry started to emerge from its nadir, the market was dominated by indie records stores (45.42%), internet/mail order sellers like Amazon (32.88%) and chain stores like Best Buy (15%), according to Luminate. By 2018, indie stores and Amazon sales had essentially settled into a market share tie — each at 41% — while the Best Buys of the world had shrunk to just north of 10%.
But beginning in 2019, a fourth player began to emerge: Mass merchant stores like Walmart and Target, which dramatically expanded their inventories. As a result, their market share went from less than 1% in 2015 — accounting for some 7,000 sales — to 10.19% in 2019 and 14.75% in 2021, with sales of 6.1 million units. While the market share economics have shifted during that time, sales have continued to increase for each sector across the board. In short, part of what has been driving the boom has been sheer visibility in some of the biggest stores in the country, which has correlated to more sales, and thus more visibility, and around and around we’ve gone. (For those curious, in 2022 indie stores accounted for 48.1% of the market, having reclaimed their dominant position as the country emerged from the pandemic.)
The Synch Explosion
In the past few years, more and more songs have caught huge waves due to synchs in popular TV shows and films. Think Kate Bush’s “Running Up That Hill” following its Stranger Things placement, The Cramps’ “Goo Goo Muck” following its Wednesday placement and Gerry Rafferty’s “Right Down The Line” from Euphoria, to name a few. That seems to have stemmed from the explosion of content, as the streaming wars in TV/film world heated up during that time — with Netflix, Disney+, Hulu, Peacock, Paramount+, Apple TV+ and the rest all throwing money around to reel in subscribers. The RIAA numbers back that up: In 2022, synch revenue grew 24.8%, from $306.5 million to $382.5 million, marking a gigantic jump. In fact, from 2020 to 2022, synch revenue jumped 44.2%, outpacing the industry at large (which was up 30.3% in that span).
Will that upward trend continue? It’s unclear. The TV/film streamers have publicly cut back their content spends in the past six months as the battle for market share and subscribers veered into profligacy and waste, while corporations looked to reel in costs amid the broader economic landscape. But it’s possible those gains are here to stay, even if they regress a bit. One music group executive recently told Billboard that in addition to the big four streamers (Spotify, Apple, Amazon and YouTube), Netflix was quickly becoming a fifth major source of revenue thanks to a combination of direct synch payments and the long tail of streams that result from a high-profile placement. That’s something to keep an eye on moving forward.
Bonus Takeaway — Ringtones!
Finally, a small bonus addition from a personal favorite aspect of the RIAA report. The mid-to-late-2000s were, of course, a time of great uncertainty and anxiety in the recorded music business, as piracy and digital music chipped away at a once-dominant physical sales format. At their height in 2007, ringtones and ringbacks were able to plug the gap to the tune of $1.1 billion, according to the RIAA. (That would be around $1.6 billion today.) So, how much money did ringtones and ringbacks generate in 2022?
$11 million!
Please, RIAA, continue printing this as a line in every report, no matter how small the figure gets. While it’s currently the smallest line item by revenue in the entire report, I cherish it more than all the others.
All products and services featured are independently chosen by editors. However, Billboard may receive a commission on orders placed through its retail links, and the retailer may receive certain auditable data for accounting purposes.
Nothing beats the sound of a vinyl turntable, right?
For music lovers, having a vinyl setup in your home is the ultimate way to enjoy your favorite albums, but with all the turntables out there, it’s hard to find the perfect one.
Fear not, Billboard has your back! To make it easy for you, we searched to find a selection of our favorite turntables (click here funky, sleek ways to store and display your record collection in your home or studio).
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Some of the products below are from retailers such as Amazon where Prime members can get free shipping (start your 30-day free trial here) and other benefits — including discounts and access to Prime Video and Prime Music.
See below for a list of eight of the best record players and turntables to buy in 2023. For more product recommendations, check out our tips on how to clean your vinyl records and the best speakers for music lovers.
Crosley CR8017B-BK Voyager Vintage Portable Vinyl Record Player Turntable with Bluetooth
$59.88 $99.95 40% OFF
Heyday turntables are budget-friendly favorite among TikTokers, but they’re currently out of stock at Target. If you don’t mind shopping pre-owned options, HeyDay turntables are available on resale sites like eBay. Plus, there are tons of other record players under $100 such as the Crosley CR8017A Voyager Portable Turntable pictured above and the ByronStatistics 3-Speed Vinyl Record Player ($51.24).
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Fluance RT81 Elite High Fidelity Vinyl Turntable Record Player
$249.99
Fluence RT81 is another highly rated record player. Features include an Audio Technica AT95E diamond elliptical tipped stylus (designed to track your record grooves with greater precision and accuracy for a high-definition audio experience) and a rubber slip mat for “superior isolation from unwanted vibrations.” Although Fluence record players do not include Bluetooth, you can connect them external speakers or click here to shop the Fluence RT81 turntable with five-inch bookshelf speakers ($489).
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U-Turn Audio – Orbit Plus Turntable with Built-in Preamp (White)
$399.00
Time for U-Turn! The U-Turn Orbit (available in white, red, black and blue) is known for it’s “balanced and neutral sound” and they’re popular on TikTok. This sleek turntable is equipped with an OA2 gimbal arm that utilizes “precision bearings” to ensure that the stylus moves freely, a low-resistance acrylic platter for “speed consistency” with anti-skate preset and an adjustable counterweight. The external, two-speed belt drive (33 1/3 RPM and 45 RPM) is designed to separate the “low-noise motor from the rest of the turntable.”
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Sony PS-LX310BT Turntable
$249.99
Moving up on the price scale, Sony’s PS-L310BT wireless turntable lets you experience vinyl in full stereo. This $250 turntable features a single button press, high-quality audio, Bluetooth connectivity and both operating speeds (33 1/3 rpm and 45 rpm).
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Audio-Technica AT-LP60XBT-RD Fully Automatic Belt-Drive Stereo Turntable, Red/Black, Bluetooth, Hi-Fi, 2 Speed
$219.00
Interested in Audio Technica? The AT LP-60 is discontinued but the AT-LPX60BT is a good alternative for beginners and intermediate listeners. Merging hi-fi audio and Bluetooth technology for wired and wireless listening, the AT-LP60XBT easily pairs with speakers and headphones. The turntable is available in several different colors including red, white, black, blue, silver and lilac.
Victrola
Victrola Revolution GO Portable Rechargeable Record Player $199.99
Need a portable record player? Check out Victrola’s portable, rechargeable Bluetooth record player. It features a three-speed belt driven turntable and an Audio Technica moving magnetic cartridge. The rechargeable battery lasts for up to 12 hours.
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Rega Planar 1 Record Player $595
If you can afford to go up in price, the Rega Planar 1 is a good starting point on the scale of high-end turntables. It features a brand new RB110 tonearm, built with the new Rega designed bespoke bearings with ultra-low friction performance and a 23mm, higher mass, phenolic platter equipped with an improved flywheel effect for better speed stability. The turntable runs on a 24v, low noise, synchronous motor designed to reduce the vibration transfer.
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Technics SL-1200MK7 Turntable
$1,099.95 $1,299.99 15% off% OFF
For DJs looking to invest in a quality turntable, Technics is the way to go. Last year, the brand unveiled the Technics SL-1200M7LPA Turntables celebrating the 50th anniversary of the popular series. The limited edition turntables — which were available in seven colors including red, black, blue, white, green, beige and yellow — were only around for a limited time but if you want an alternative from the same brand, go for the the SL-1200MK7.
Record Store Day unveiled the list of special releases for its 2023 event on Thursday (Feb. 16), which features vinyl exclusives from Taylor Swift, The 1975, Madonna and more.
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Swift is returning to RSD this year with a 2xLP vinyl edition of Folklore: The Long Pond Studio Sessions, while The 1975 will drop Live With the BBC Philharmonic Orchestra.
Among the other releases in store for Record Store Day’s exclusive releases are Björk’s The Fossara Remixes in a 12-inch vinyl single, Brian Eno’s Forever Voiceless LP, a 5xLP version of Grateful Dead’s Boston Garden, Boston, MA 5/7/77 (Live), Billy Joel’s Live At The Great American Music Hall – 1975 in 2xLP, Madonna’s American Life Mixshow Mix (In Memory of Peter Rauhofer) LP, Dolly Parton’s The Monument Singles Collection 1964-1968 and many, many more. These exclusive titles are physically released only at indie record stores.
The full list of RSD releases will be available at participating record stores on Record Store Day (April 22). There is no website to purchase any item on the list, and fans must find a participating store to find out how they are celebrating RSD.
Be sure to check out the complete and extensive list of upcoming releases on the official Record Store Day website here.
Happy Valentine’s Day, Swifties! Taylor Swift has dropped a special surprise for Cupid’s holiday on Monday (Feb. 13) — a heart shaped vinyl recording of her performing tracks from her 2019 album Lover live in Paris.
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The vinyl announcement arrived on the pop star’s webstore and featured pictures of the new release. Lover (Live From Paris) will be spread across two heart-shaped vinyl records, one baby pink, the other baby blue. Sides A and B holds tracks “ME!,” “The Archer,” “Death By a Thousand Cuts” and “Cornelia Street,” while sides C and D holds tracks “The Man,” “Daylight,” “You Need to Cam Down” and the album’s title track, “Lover.”
“My heart’s been borrowed and yours has been blue. Now both are on vinyl to end up with you,” Taylor Nation tweeted. “#LoverLiveFromParis Special Edition Heart-Shaped Vinyl available while supplies last at store.taylorswift.com!”
The heart-shaped vinyl duo retails for $39.99 and is limited to one per customer, while fans in the United Kingdom are allowed to order two per customer. Fans looking to secure the limited release will likely need to act fast, as Swifties have a reputation for selling out Swift’s special releases rather quickly.
Upon Lover‘s release, it debuted at No. 1 on the Billboard 200 chart and spent a total of 181 weeks on the all-genre tally. Singles “ME!” and “You Need to Cam Down” both charted at No. 2 on the Billboard Hot 100 while “Lover” and “The Man” hit Nos. 10 and 23, respectively.
Take a look at the new vinyl below.