IFPI publishes global vinyl market details
Press Release / IFPI
London, 17thApril 2015 – On the eve of Record Store Day, IFPI, the organisation that represents the recording industry worldwide, has published details of the global vinyl market.
Vinyl has seen a revival in the past few years, with sales increasing by 54.7 per cent in 2014 alone to US$346.8 million. The leading market for vinyl sales is the US, where the market was worth US$181.6 million last year, up 52.8 per cent. The top 10 market with the highest growth was Australia, where vinyl sales climbed 127.0 per cent.
Despite its sales success, vinyl remains a comparatively niche part of the global recording industry, accounting for 2 per cent of its US$14.97 billion revenues in 2014.
Frances Moore, chief executive of IFPI, says: “The recording industry is a portfolio business, offering music in formats from vinyl to streaming. Critics thought vinyl would disappear as a format, but many music fans around the world seem to be falling in love with it again. With the accompanying artwork and liner notes, vinyl records really can be a work of art and a collector’s delight.”
IFPI’s full global market report for 2014, Recording Industry in Numbers, will be published on Monday, 20th April. To be added to the alert list when that becomes available to purchase please contact email@example.com
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Notes to editors:
IFPI is the organisation that promotes the interests of the international recording industry worldwide. Its membership comprises some 1,300 major and independent companies in 63 countries. It also has affiliated industry national groups in 57 countries. IFPI’s mission is to promote the value of recorded music, safeguard the rights of record producers and expand the commercial uses of recorded music in all markets where its members operate.