Vinyl record sales to top 1 million for first time since 1996

"Vinyl, the once ubiquitous music format, has had an impressive revival in the UK and sales of records this year are on course to break through the 1m mark for the first time in almost 20 years"

http://www.ft.com/cms/s/0/e5f3f08e-55e3-...z3Ga9OFDqN

http://subvertcentral.blogspot.co.uk/201...top-1.html

Little riposte article I wrote from this report in the Financial Times.

I hope it is not a ' vinyl fetish resurgence'

Article: " For music purists, digital just will not do.

Vinyl, the once ubiquitous music format, has had an impressive revival in the UK and sales of records this year are on course to break through the 1m mark for the first time in almost 20 years.

Sales of vinyl have risen sharply since a 20-year low in 2007. From 2012 to 2013 sales doubled, though limited capacity in vinyl pressing plants could limit future growth.

The resurgence in popularity of vinyl has been helped by annual events such as Record Store Day, when independent record stores offer discounts and in-store events in an effort to attract consumers.

The rising sales are closely linked with the emergence of Record Store Day, which started in 2008. More than 240 record stores in the UK and Ireland took part in 2014, up from about 100 when it began.

“With Record Store Day people rediscovered independent shops and the joy of vinyl,” says Kim Bailey, director-general of the Entertainment Retailers’ Association, which organises the event.

With close to 800,000 vinyl records sold so far this year, already higher than 2013, the British Phonographic Industry says sales could hit the 1m mark for the first time since 1996, when hip-hop group The Fugees topped the charts with their acclaimed album The Score.

The figures do not capture the secondary market of online vinyl sales, so they are likely to be higher still.

But vinyl still remains a tiny fraction of total music sales, which is increasingly dominated by digital purchases and subscriptions. Vinyl album sales were worth £12.5m in 2013, 2.4 per cent of total music sales.

“People use digital, and increasingly streaming, because it’s such a fantastically versatile and convenient way to discover, enjoy and share their favourite music, but ultimately it’s a function format, whereas vinyl is something that you love to own and collect,” says Gennaro Castaldo, BPI spokesman"

Nice comment on the article (on the FT website):

"All true but equally consider this. As a composing musician you are likely to be servicing only a niche market, at best. If you release your content in a digital format it can conveniently be on the internet in nanoseconds and will have been conveniently stolen by somebody inside two nanoseconds. In the unlikely event that someone decides to pay you for it, directly or indirectly, you will ultimately receive such a small pittance that I am unable to put a meaningful number to a unit sale. Whereas if you have released your music exclusivly on vinyl you have a tactile physical product in a cover that itself tells a story about the music. You have a physical relationship with your audience, blah, blah.. oh yes, and they will pay you from around £20 for the record. Include more visual content, design it all beautifully and people will pay more. Audiences perceive music they hear on vinyl as having greater value than music they find online.
3000 hits on YouTube, Spotify or whatever won't generate enough revenue to buy a cup of coffee. Sell 3000 vinyl albums at £20 a pop to a niche audience you have personally developed and you will gross £60,000. I million vinyl records is a drop in the bucket in terms of UK unit sales. But a small slice of that tiny pie is the difference to an increasing number of musicians between making a living at their work or not."

@ statts

I heard theres a Rough Trade opening up in Nottingham?? my friend had an interview there yesterday hope she gets it

[Statto]

@ statts

I heard theres a Rough Trade opening up in Nottingham??

supposedly – I've not heard anything about it for ages