Vinyl Saw Turnaround From COVID-19 Lockdown Trends: Futuresource
Vinyl grew 23% worldwide in 2020 retail value, reversing a previous market “cool down,” reported Futuresource. The segment had a “rush of activity" from 2013-2019, said analyst Alexandre Jornod, then slowed, before picking up again during the COVID-19 pandemic when…
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lockdowns boosted demand for home entertainment products. Futuresource expects vinyl to overtake CDs in value this year in many markets, including the U.S. and U.K. Markets that were slow to re-engage with vinyl, including Italy and Spain, are seeing a turnaround, with the vinyl spend in Spain expected to grow by 41% this year, Jornod said. Japan, Canada, Australia and the Netherlands are also all expected to see strong growth levels in 2021, he said.