Chart Puts New Spin on Vinyl
Just in time for Record Store Day, the Official Charts Company has launched the UK’s first ever vinyl chart.
New figures published reveal that vinyl continues to grow- though it should be pointed out that it represented a whopping 2% of global music revenues in 2014 despite increased revenues of 54.7% according to the IFPI’s recent report.
It’s important to maintain perspective but 2014 did see vinyl LP sales reaching a 20-year high in the UK at 1.29 million in 2014, following seven years of unbroken growth. Official Charts Company data for the first quarter of 2015 reveals that vinyl album purchasing is up by 69% this year so far.
Commenting on the new weekly vinyl chart, Chief Executive of the Official Charts Company Martin Talbot said: “We’re delighted to launch the UK’s first Official Vinyl Albums and Official Vinyl Singles charts on OfficialCharts.com. With vinyl album sales up by almost 70% already this year, vinyl junkies could well have snapped up 2 million units by the end of this year – an extraordinary number, if you consider sales were one-tenth of that just six years ago”.
UK vinyl retailer Phil Barton of Sister Ray Records, Soho, London added: “The resurgence in vinyl sales has been a great boost for the independent trade. The launch of the Official Vinyl Charts tells the world that a format that is loved and revered is more relevant now than ever – far from being a curiosity, vinyl is the go-to format for many music fans”.
In related new, Music Week reports that the UK is the third largest sales territory for vinyl following the US in first place and Germany currently in second.
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