While vinyl records have been overtaken by modern technology, they have remained sought-after among collectors for generations. Digital recordings are the norm in the 21st century, but for many people, it's far more satisfying to have a memorable old record in a familiar sleeve to put on a turntable.
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Why has vinyl increased in popularity?
Analysts say the reason for the rapid rise in popularity is because the majority of the best-selling albums of 2022 were released on vinyl. Major artists such as Harry Styles and Taylor Swift took the retro approach with their latest recordings.
The latest sales figures for the UK echo a global trend, as sales of vinyl records have exceeded CD sales in the United States for the first time in 30 years. CD sales in the UK have suffered a significant decline, down from £150 million in 2021.
Music industry trade body the BPI feels LP records are "as relevant as ever", as they celebrate their 75th anniversary this year. Geoff Taylor, the organisation's chief executive, believes that in an "age of streaming", making a physical music purchase remains an essential part of the market.
The Entertainment Retailers' Association echoed these views, with chief executive Kim Bayley describing it as a "watershed moment" for the music industry. She said the CD had all but wiped out the vinyl records business after it was launched, and few people would have believed a renaissance such as this was even possible.
Which generation re-popularised vinyl?
Record industry insiders say it is the younger generation who have revitalised record sales. The artists who are releasing their latest albums on vinyl all have a young fan base. Experts believe vinyl is becoming as popular as Spotify's playlist today. According to a report in the New Musical Express, the attraction of owning your favourite artist’s new record, in a colourful sleeve (and often with coloured vinyl) offers "timeless appeal".
Young people today are feeling the same pull that their predecessors felt in the 1950s, when record sales really took off among the rock and roll generation. Adding a popular LP to an already aesthetically pleasing record collection is becoming far more fashionable than simply downloading a digital version.
Record stores have been surviving the post-pandemic economic climate partly thanks to the new boom in vinyl sales. A continuing interest in physical records from older buyers, combined with the new surge of interest from the younger generation, are helping retailers to stay afloat.
There is even an annual event called Record Store Day, when artists often release an exclusive one-off recording. The event is helping vinyl sales go from strength to strength.
What were some of the best-selling records last year?
Top recording artists have recognised the growing demand for their music, with modern artists such as Arctic Monkeys and Wet Leg having a great year in 2022.
Even cassettes have made an unexpected comeback, with canny artists like Florence and the Machine, Harry Styles and Central Cee leading the way.
Taylor Swift is reportedly a massive fan of vinyl and sold more than half a million vinyl copies of her best-selling album, Midnights, in just one week when it was released in October 2022. This made it the top-selling vinyl record of the year, with Styles' album Harry's House coming a close second.
What are the best-selling records of all time?
The best-selling album of all time is Michael Jackson's Thriller, released in 1982, which has sold 70 million copies to date. AC/DC's Back in Black, released in 1980, comes in at number 2, having sold 50 million copies. Joint third on the list is the soundtrack from the movie, The Bodyguard, featuring the late Whitney Houston and various other top artists. Released in 1992, it has sold 45 million copies. It shares the third spot with Pink Floyd's iconic Dark Side of the Moon, the progressive rock album released in 1973, which has also sold 45 million copies.
Records increase in value over time and people with old vinyl tucked away in their attic could be sitting on a small fortune without realising it. The amount that people spend on vinyl every year varies from around £160 up to £800 for serious collectors. Many go to record fairs to try and find those elusive rarities that might be worth a lot of money in years to come.
How should vinyl records be stored?
To keep vinyl in pristine condition, it's important to store it correctly. Records should never be stored flat or horizontally.
Traditional old record boxes, such as the ones favoured by DJs, are designed to keep vinyl records standing up at all times: storing vinyl records flat places too much pressure on those lower in the pile. Over time, this can cause damage and records can become warped and unplayable. This not only ruins your enjoyment of the music, but it also decreases their value significantly!
Never leave records lying around, as even with their covers on, they can become damaged by dust and dirt that can cause fine scratches. Clear plastic storage boxes provide the perfect protection.
Who knows, in 20 years, you might just discover one of your old records has increased considerably in value - then you'll be glad you took our advice!