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So apparently, as the music CD industry gets increasingly dismal, the vinyl record industry is actually picking up! Low cost and portable record players have a little somethin’ somethin’ to do with this, as well as new hip record stores opening up. Their conversation-starting artwork, the care that you put into them, and the quality of sound also play a part in their modern popularity.
Here’s some info from LA Times:
- Nielsen SoundScan reported 1.88 million sales of new LPs last year, an 89% increase over 2007. And that figure is almost certainly conservative, as many independent retailers do not report their sales to SoundScan; the service says that more than two-thirds of vinyl albums are sold at indie operations.
- “By the end of 2008, over 50% of our business was in new vinyl, which amounts to millions of dollars a year,” said Matt Wishnow, founder of the New York-based online music retailer Insound.com. Its turntable sales increased 200% in 2008, with the company shipping dozens daily during the holiday season.
- But online retailers are not the only ones profiting from the market for new LPs. Now, it may have reached a point where it’s self-sustaining for the kind of small independent store once done in by downloading.
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