Vinyl is growing, but it is not overtaking streaming. The latest reports show two trends at once: vinyl revenue is rising, while streaming still accounts for most recorded-music revenue. Those figures describe what the market is doing—not why individual listeners buy records. The reports do not establish that streaming causes vinyl purchases or that vinyl is replacing streaming.
What the latest figures show
In its 2026 report covering calendar year 2025, the International Federation of the Phonographic Industry (IFPI) put global recorded-music revenue at US$31.7 billion, up 6.4% year over year. Streaming generated 69.6% of that revenue; paid subscriptions alone accounted for 52.4%, with subscription revenue up 8.8%.
Vinyl grew at a faster rate, but from a much smaller position in the market: IFPI reported a 13.7% increase in global vinyl revenue in 2025, its 19th consecutive year of growth. This is a revenue growth figure, not a global count of records sold. IFPI also said revenue from all physical formats rose 8.0% globally in 2025.
The comparison is between streaming’s large share of global revenue and vinyl’s percentage growth rate. A faster growth rate does not mean a larger market.
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U.S. vinyl sales are up, but the reported totals differ
Two U.S. year-end reports show vinyl growth in 2025, but they report different unit totals. Their figures come from separate data series and should not be averaged or treated as interchangeable.
| Source and scope | 2025 vinyl units | Change from 2024 | Revenue or channel detail |
|---|---|---|---|
| RIAA, U.S. year-end report | 46.8 million | Up 7.9% | US$1,042.9 million in wholesale revenue, net after returns; up 9.3% |
| Luminate, U.S. Year-End Music Report | 47.9 million | Up 8.6% | Four in ten vinyl records were sold at independent record stores |
The RIAA’s dollar values are U.S. wholesale revenue, net after returns. Luminate reports U.S. music consumption and sales data. The reports do not provide a reconciliation for the difference in their unit totals, so each figure should be read with its source and scope attached.
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Why can vinyl grow while streaming remains dominant?
Because growth and market share answer different questions. Vinyl can sell more and earn more than it did the year before without coming close to streaming’s share of total revenue. The IFPI figures make that distinction clear: streaming represented 69.6% of global recorded-music revenue in 2025, while vinyl revenue grew 13.7% that year.
The figures establish that the formats coexist in a growing recorded-music market. They do not establish the reasons people choose vinyl, whether vinyl purchases are additional to streaming subscriptions, or whether one format is driving the other. Nostalgia, collecting, sound quality, artist support, and younger listeners may be suggested as explanations elsewhere, but these reports do not measure them as causes.
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What the numbers do—and do not—say about the U.S. market
The scale gap is visible in the RIAA’s U.S. revenue categories for 2025: total streaming revenue was US$9,474.5 million, compared with US$1,381.0 million in total physical revenue. Those are revenue figures, not unit counts, and total physical revenue includes more than vinyl. They therefore provide context for streaming’s scale, not a direct vinyl-versus-streaming comparison.
Luminate also reported that direct-to-consumer sales represented 13.6% of all U.S. physical albums sold in 2025, up 2.1 percentage points from 2024. That is a channel measure for physical albums overall, not a vinyl-only share.
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How to read the trend
- For the global picture: use IFPI’s revenue figures. They show streaming’s dominance and vinyl’s sustained revenue growth.
- For U.S. vinyl units: quote either RIAA or Luminate with its attribution, rather than combining their totals.
- For explanations of buying behavior: treat motivation as an open question unless a source directly measures it. Sales growth alone cannot reveal why a buyer chose a record.
IFPI CEO Victoria Oakley described the broader global growth context this way: “Great music from incredible artists, aided by record company partnerships and investment, is driving global growth – with more people than ever before paying to engage with it on paid streaming services worldwide.” Her statement concerns paid-streaming engagement; it is not evidence of why vinyl sales are rising.
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