Here’s my experience of history as someone born in 1971; i.e., I was a teenager as vinyl was going out and CDs were coming in. I still have a large (2,500+ disc) vinyl collection but do not buy new vinyl any more (I buy used still, mostly to get stuff that can’t be found on CD).
CDs first hit the market in 1983 and were touted, at first, as the best thing since sliced bread to classical music fans. No pops, no clicks–and it would sound amazing! That was the pitch.
CDs started appearing in local record stores very slowly. At first the CD section was tiny and remained pretty small until around 1988-89. Around that time, a new record cost about $12 and a CD cost a lot more. I don’t remember the exact pricing–$15 to just under $20.
Record companies wanted everyone to switch to CD for obvious reasons. Not only would people pay a premium for CDs but they’d replace all of their old vinyl too. So they went about destroying vinyl. They pushed vinyl out of the stores so you couldn’t get it any more, and, whether on purpose or not, vinyl quality drastically declined in the late 80s. Records starting coming with all kinds of skips and crap.
By 1991, the game was up. I bought my last new vinyl in that year, and it was hard to get. I have pretty rare (though not necessarily worth anything) Bel Biv Devoe, C+C Music Factory, and Technotronic vinyl albums.
Personally, I see the changes as mostly led by the dickhead record industry trying to milk the public for all they were worth and not by consumer demand, but of course it was both. That’s why I have very little sympathy for the industry not seeing that by switching to a digital format, they’d ensure that pretty soon customers would be ripping and downloading tracks and not paying for music any more. Whoops!
There’s been a debate over what sounds better, CD or vinyl. Well, there are definitely good thing about both formats. Rather than get into that, I’d say I wish we had a format that offered the best of both. Mark my words, the garbage MP3 format will not be around for all that much longer as the standard. As storage gets easier and better–and once we finally agree as a society that we all don’t need our own copies, which is ridiculous in the age of the Cloud–we are going to go back to the master recordings and rip them good and right for posterity. Or such is my hope.
One thing the record album had going for it was a much more substantial user experience: the big cover art, the inner sleeve, and so on. People want that, and they want the vinyl sound. I think that’s why people buy vinyl today.