Benzinga - by Franca Quarneti, Benzinga Staff Writer.
In 2023, the U.K. witnessed a remarkable surge in vinyl sales, reaching the highest level since 1990.
According to the British Phonographic Industry (BPI), vinyl sales increased by 11.7%, totaling 5.9 million units and marking the 16th consecutive year of growth in this sector.
Taylor Swift's "1989 (Taylor's Version)" emerged as the best-selling LP, closely followed by the Rolling Stones' "Hackney Diamonds."
Read Next: Who Topped Google's Music Searches In 2023? Inside The Year's Biggest Hits, Artists
This revival wasn't limited to vinyl alone; cassette sales also thrived, surpassing 100,000 units for the fourth year in a row. Despite streaming dominating music consumption (accounting for over 80% of recorded music consumption), vinyl experienced a resurgence due to its perceived collectibility and superior sound quality.
As per the BBC, Factors contributing to this resurgence included the popularity of independent record stores, the revival of record label HMV (His Master's Voice), particularly with the reopening of its flagship store on London's Oxford Street after a four-year hiatus, and the growing preference for physical music formats.
The top-selling vinyl albums in the UK for 2023 were:
Additionally, the BPI highlighted the resurgence of cassette sales after their decline in the early 1990s, while CD sales showed a slowdown, stabilizing at around 11 million units in 2023.
Read Next: Inside Bad Bunny's World - Top 10 Questions About The Latin Music Sensation Answered
Image credits: Oleg on Unsplash.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.