January 18, 2017

Vinyl May Be Worth a Billion In 2017

The culture surrounding wax grew out of necessity for quality into a dedicated pastime of the hunt for records. After a sharp decline with the introduction of digital, vinyl sales have crept back as a solid chunk of global music sales. This resurgence of an old art has made such an impact that big firm Deloitte has predicted vinyl will be an industry disruptor in 2017. The number crunchers predict that sales are still on the rise for the Deloitte-dubbed ‘nostalgic niche’. In the past decade, global sales went from a 15-year hibernation┬áto a rapid resurgence as the trend took hold. Likely because of

Though the numbers may have staggered last year, Deloitte predicts continued growth in 17. Likely because of the per-unit cost, vinyl records are predicted to make up 6% of total revenue on recorded music this year. Though it may not be enough for Diplo’s extra beach house, vinyl can’t be ignored in any major artist’s distribution strategy. Expecting over 40 million albums to cross the register this year, wax sales may cash in a billion bucks.

What does this mean for your everyday collector? Increased demand and a strong cash flow will likely result in more wax available to you. Get out there and support your local record shop because that cash spend on your collection is better served paying your local selekta’s┬ábills rather that lining the pockets of the man.

Source: Deloitte.