The LP has been with us for over 80 years, struggling to survive after the introduction of the CD and then miraculously enjoying a vinyl revival largely sparked by the arrival of the modern day DJ--but fresh data suggests the overs-sized disc is waning in popularity.
The first signal the retro-revival is waning is found in the half-year survey of US consumer music trends released by the RIAA. In it the music industry org reports an almost 10% decline in sales for the format--a significant retrenchment given the fact that even in a good year the 12-inch disc has represented a fraction of overall revenues from music sales worldwide. In fact, a best-selling LP sells all of several thousand copies in Canada, as compared to CDs and album downloads that can whip up 100,000 sales or more.
The rebirth or rejuvenation of the vinyl disc has been a blessing for main street music stores, so if the latest figures hold true the push behind Record Store Day is in trouble, and the pay-day for owner-operated music shops is even more so. Which isn't to say that the format is dead. US-based Discogs reports a whopping 23% increase in vinyl album sales in the first six months of 2016; however, the online retailer doesn't break down how many of the records purchased are used--which is a big ticket for the Internet store that facilitates transactions between collectors and sellers.
Paul Resnikoff in Digital Music News breaks down the trajectory of the once infallible LP here.