While CD sales dropped 20% in 2008, vinyl record sales doubled. Yes, it’s fair to say that this is an apples and oranges comparison, since U.S. vinyl sales came in at just under 2 million while CD sales fell from to 361 million units from 450 million in the same time period.
Still, I was shocked to see my local department store selling turntables and young, new artists on vinyl. It makes sense at a purely human level. Digital music is great. It’s transportable and easy to share. It’s also ethereal in nature.
For the same reason that people like printed books even though what they want to read may be available as an e-book, some people like the feeling of old-fashioned vinyl. These retro-media forms slow our fast-paced lives just a bit. They help us to maintain a thread of connectivity to the past. That connectivity serves as a small anchor in the compressed experience of today’s busy world. Besides all that, the cover art is a lot of fun.
Vinyl Record Resurgences
Musicians Embrace the Old Black Magic of the SLP Record
Trend Themes
1. Vinyl Record Resurgence - The resurgence of vinyl records presents an opportunity for businesses to leverage the demand for analog music experiences.
2. Retro-media Forms - The appeal of retro-media forms can be harnessed by businesses looking to differentiate themselves and tap into consumer nostalgia.
3. Physical Media - The trend towards physical media shows that there is still a market for tangible products and businesses can leverage this by offering immersive physical experiences.
Industry Implications
1. Music Industry - The music industry can benefit from the vinyl record resurgence by producing limited edition or special releases to cater to audiophiles and collectors.
2. Retail Industry - Retailers can capitalize on the trend towards physical media by offering unique in-store experiences, like vinyl listening stations, to attract and retain customers.
3. Consumer Electronics Industry - Consumer electronics companies can tap into the demand for analog music experiences by developing innovative turntable designs or integrating vinyl playback into existing products.