The RIAA this week have reported figures that indicate record music revenues by vinyl format - have surpassed Compact Disc for the first time since 1987. This is a mid-year report, so we'll keep an eye on it.
However, for the first time, ad-supported on-demand streaming ($421 million) overtook physical sales (digital download - $351 million and vinyl/CD/Cassette - $376 million). This further compounds the market needs for convenience.
But what does this mean for independent artists? In today's age, releasing music in a digital format isn't suited for new artists and underground music. Five hundred thousand plays on Spotify roughly translates to £2k in royalties. You could ship 150 LPs and make more than that back and probably a lot quicker as an independent label.
My opinion? Let's stop releasing material from small labels and artists onto the major streaming platforms. The reason why we all loved the decades gone for music was that you couldn't get hold of that music without attending a gig or listening in on radio stations.
Beyond the aesthetics and audio superiority of the vinyl, is the opportunity to take back control the of the market revenue share that big corporates have been taking advantage of for years.
I do not doubt that vinyl sales will continue to grow in revenue as the demand is increasing, the thirst for original music and rare finds is stepping outside of the specialist zones of nerds and collectors.
I shall revisit this article as the year progresses.