This post was originally written in Italian by Paolo Gambardella. It has been translated by an AI agent and may contain inaccuracies.
A few weeks ago, a LinkedIn contact proudly showed off their vinyl shelf. They mentioned they also have Spotify Premium. But the records they truly love — they want to hold them, not just stream them.
For years the narrative in entertainment has been straightforward: physical is dead, streaming and digital are the future. But recent data tells a different story.
The American vinyl market has crossed the billion-dollar mark for the first time, marking its nineteenth consecutive year of growth (RIAA, 2025 Year-End Music Industry Revenue Report). Something similar is happening in film: while standard DVDs continue to decline, 4K UHD Blu-ray sales have risen 12%, a sign that the most passionate audiences want to own their content in uncompressed quality, without depending on a platform-tied licence (Digital Entertainment Group data, as reported by FlatpanelsHD).
What about video games?
Here, platform holders are moving in the opposite direction. Disc drives sold as optional accessories, a constant push towards GaaS, ecosystems designed to go ever more digital. I understand the short-term logic: digital margins are higher, distribution costs less, player data is easier to collect. But optimising for short-term margin risks alienating the most loyal core audience — the very same people who, in music and film, are today driving the physical revival.
It’s true that in volume, digital still leads aggregate sales, especially when you lump together mass-market multiplayer titles and premium single-player experiences. But high-end single-player games are emotional investments. Players don’t just consume them — they collect them. I know people who keep the cases of the games that shaped them on their living room shelf, just like my friend keeps his records on his.
On that note, have a listen to this gorgeous Ukrainian lullaby from the new Stalker 2: Cost of Hope DLC:
Why digital is still winning, for now
Geopolitical pressures on supply chains and component costs currently give digital distribution a real cost advantage, and that’s the main reason platform holders are pushing in that direction. But when supply chains stabilise and fatigue around digital licensing — that feeling of “you don’t actually own what you buy” — keeps growing, I think physical will find its moment of revival in gaming too, perhaps on a smaller scale than before, but still meaningful.
Chasing digital uniformity to chase a trend risks losing sight of a simple principle that vinyl and Blu-ray have been quietly proving for years: premium content creates premium collectors.
My gut feeling is that platform holders are abandoning their most loyal fans too soon, all to run after a passing industry trend.
