LPs are coming back! The old records that everyone has stored in the basement gathering dust are starting to become the hip thing again. Popular music stores such as HMV have begun selling records of newly released albums among their many CDs and DVDs.
Additionally, flea markets and other low key charity sales have suddenly been in demand as people scavenge for the records of classic bands, preferring to increase their collections at $1 a record rather than the $20+ that music stores have begun to charge.
However, a slight twist on purchasing from a music store is that they tend to include a copy of the CD inside the sleeve, in addition to the record. Several recently released albums have had this package as an option. A specific example is that of Coldplay’s “Viva La Vida.” The CD alone was available at $14.99 while the record CD combination was available at $18.99. With less than a five dollar difference, anyone with an interest in records is undoubtedly going to choose the latter option.
Additionally, some people who are huge followers of certain bands are likely to purchase the records released by the band from the standpoint of having as much band paraphernalia as possible. However, with LPs gaining popularity, should they already have them in their possession, it is likely that they will eventually play them and join the ever-increasing group of LP supporters.
Why This Trend Is Growing
- Return of Lps in Music
- The comeback of vinyl records in the music industry presents an opportunity for music stores to expand their inventory and for artists to release music in multiple formats.
- Low-key Sales in Secondhand Market
- The increasing demand for vinyl records in secondhand stores presents an opportunity for the development of new sales channels and the creation of new revenue streams.
- Bundled Media Purchases
- The trend of offering a CD along with the purchase of a vinyl record presents a potential opportunity for the music industry to increase sales and cater to collectors who prefer physical media.
Industries Being Reshaped
- Music Retail
- The resurgence of vinyl records presents an opportunity for music retailers to expand their product offerings and drive growth through physical media sales.
- Secondhand Retail
- The increasing demand for vinyl records in secondhand stores presents an opportunity for the development of new sales channels and the creation of new revenue streams.
- Music Production
- The rising popularity of vinyl records presents an opportunity for artists to release music in physical media format and expand their audience to collectors and physical media enthusiasts.
