Vinyl record sales surpassed CDs for the first time since the 1980s

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The days of vinyl records being a nostalgic relic of the past are long gone. So it's probably little surprise that something else you never would have thought would happen happened, too: Vinyl records have outsold compact discs for the first time in 34 years, reports Bloomberg.

Other formats, such as vinyl recordings, cassette tapes, and CDs, also known as "wax presses", were common before they became the preferred method of listening to music. Despite that, the format was still up a bit in sales during the first half of 2020-a modest 4% rise, according to the RIAA. But that has not stopped vinyl records out of creating a resurgence. In all of 2019, vinyl sales accounted for $224.1 million worth of sales, which 2020 has already eclipsed halfway through the year. Each new format was more convenient than the last and suppressed interest in vinyl.

Vinyl's popularity also continues to grow in the United Kingdom, with sales increasing in 2019 by 4.1% on the previous year, though the rate of growth has slowed following the "vinyl revival" boom in the middle of the last decade. In the first half of this year, body sales fell 23% to $ 376 million as the epidemic continued to stifle music industry regulations. Concerts and visits to music stores have all but disappeared.

Regardless of the stunted development of bodily earnings, songs streaming has continued to flourish.

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For streaming services alone, more listeners have been willing to pay to play.

The number of paid subscriptions increased 24% to more than 72 million on average. Streaming, which includes the revenue of paid streaming, ad-supported streaming and streaming radio, grew 12% to $4.8 billion during the first six months of 2020, RIAA found.

Streaming represented a whopping 85% of all recorded music revenue in the first half of the year with physical at 7%, downloads at 6% and synchs at 2%.

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