On April 19, 2024, Spotify tweeted that Taylor Swift’s The Tortured Poets Department was the first album in the music streamer’s history to have more than 300 million streams in a single day. Apple Music shared similar numbers. But her success wasn’t just digital.
Of the album’s 1.5 million copies sold in the first week, Billboard reports 700,000 were vinyl records. That breaks Swift’s own record for the largest sales week for an album on vinyl since Luminate began tracking data in 1991.
In 2023, the release of Taylor Swift’s album 1989 (Taylor’s Version) — the previous biggest-selling vinyl record — boosted the sales of vinyl media to the point where it could now be included in the 744 items the Office of National Statistics (ONS) uses to calculate the monthly rate of inflation in Great Britain.
Swift’s Commercial Success
Though the singer has long been an established star, breaking onto the music scene in 2007, the Ticketmaster-breaking success of Taylor Swift’s Eras Tour made her a household name. Her world tour, multiple No. 1 spots on Billboard’s radio rankings, and successful concert film have influenced consumers’ shopping. Billboard states that, in 2023, a Swift record comprised one of every 15 vinyl albums sold in the United States, generating a whopping 3.484 million records sold in the U.S. alone.
The Most Popular Vinyl Records
Swift’s vinyl sales broke records throughout 2023. The popularity of 1989 (Taylor’s Version) propelled the record to No. 1 on the U.K.’s 2023 bestselling vinyl albums list. Her records — eight of which landed a spot on the list — sit among releases like The Rolling Stones’ Hackney Diamonds, Lewis Capaldi’s Broken by Desire to Be Heavenly Sent, Olivia Rodrigo’s GUTS, and Lana Del Rey’s Did You Know That There’s a Tunnel Under Ocean Blvd.
A Look at Vinyl Records
Since 2022, vinyl sale volume has surpassed those of compact discs. The vinyl iteration of 1989 (Taylor’s Version) sold more than 3 million copies, eclipsing other mediums, including digital sales.
The modern vinyl record emerged in the 1940s. Columbia Records introduced the 12-inch, 33 1/3 RPM long-playing (LP) record in 1948, revolutionizing the release of recorded music. Although vinyl records’ popularity plummeted following the release of 8-tracks, cassettes, CDs, and MP3s for many years, listeners have since returned to vinyl records for many reasons.
First, a turntable turns a vinyl’s vibrations into a signal nearly identical to the original recording’s waveform. Additionally, vinyls do not require digital compression. Digital audio, although clean, is often flat, whereas vinyl can capture original studio sounds and nuance otherwise eliminated by most modern releases.
Presently, Swifties who love vinyl’s distinct sound are investing more time and money to grab a record that can be physically owned and experienced. Vinyl is also an investment, as some popular records appreciate and resell for thousands more than their original retail price.
The Rise of Vinyl Record Sales and the Inflation Basket
According to the Recording Industry Association of America (RIAA), U.S. listeners bought 41.3 million EPs and LPs in 2022. Similarly, in 2023, U.K. vinyl LP sales rose for the 16th consecutive year, with the British Phonographic Industry (BPI) reporting just under 6 million units sold.
The vinyl consumer resurgence has been a boon to independent and locally-owned record stores. BPI reports that the vinyl-centric event Record Store Day catapulted the medium’s sales by 122%. Events held at small shops allow all music lovers to find the best records on vinyl and celebrate the medium by acquiring collectible, coveted releases.
The ONS considered the growth in vinyl sales and the increase in independent record shops and decided to add vinyl records to the inflation basket. The inflation basket, often likened to a comprehensive “shopping basket” containing items representative of household spending, represents consumer price inflation and reflects the changes to the economy’s purchasing power.
Is Vinyl the Future of Music?
Propelled by chart-topping artists like Taylor Swift and her global fan base, vinyl’s return to homes will likely remain a trend. As the pop icon’s hits often transcend demographics, millennials and Gen Z’s newfound enthusiasm could bridge generational gaps between themselves and those more familiar with the medium.
Taylor Swift’s historic vinyl album sales and the growth of vinyl’s overall popularity speak of a broader cultural shift. Despite the convenience of digital streaming and the ubiquity of smartphones, consumers are gravitating toward the tangible experience of vinyl records. Records’ position in the inflation basket proves it is one product that continues to endure the test of time.
