So, who honestly saw THIS coming? That in 2015 artists would see MORE revenue from vinyl sales than the combined income from THREE major streaming portals? Whaaaaat year is it again, and what does it mean for artists?
What it means is that you *should* diversify your media delivery to include vinyl records. Why? For more reasons than you might know:
- More revenue – see article below from Digital Trends for the complete scoop. Here’s a snippet from the article: “While the on-demand, ad-based, music services (Spotify, YouTube & VEVO) are generating more money than ever — $163 million in the first half this year as opposed to $128 million last — vinyl sales, at $222 million, have those numbers soundly beat.”
- More and more young music consumers are discovering the love of holding a record jacket, dropping the needle and interacting with a physical medium, not an MP3. Should you abandon online sales? NO! But, embrace new mediums as the emerge, or in this case RE-emerge. And, you can always add download codes to a hi-res version of the LP for true fans, to drive vinyl sales.
- Vinyl product allows you to have an older demographic, familiar with the medium, perhaps take a chance on YOUR new band. Vinyl imparts a notion of quality, from a time when artists laboured over the end product; spent hours discussing the track order, how one song flows into another; spent time discussing artwork for the jacket and inserts; and allows people to hold your product. This doesn’t mean that some bad bands or material weren’t released on vinyl, but it takes some consumers back to the time when the music mattered.
- Not every band/artist IS releasing on vinyl, so why not be an early adopter and do it? Yes, there are costs involved, but take a portion of your budget and do a limited run. See how the sales are, and go from there.
What market other than vinyl can you say is growing so rapidly in the music industry? With purchases of Vinyl up 52 percent from this time last year, no other format is growing at such a rapid rate. So, it’s becoming harder and harder to ignore that vinyl, for the time being and foreseeable future, should factor into your product release strategy.
From the article:
“In a pop-culture world dominated by streaming and pick-and-choose musical singles, it is interesting to see long form records making such a strong comeback, pointing to what some might consider to be a larger cultural shift.
The modern music consumer, when purchasing physical music, seems to prefer the larger images, exclusive content, and often free digital downloads that come with a vinyl buy. More and more bands are printing special singles, colored vinyl, and other cool content for analog fans.”
Come talk to us at Number 9 about your next project, whether it be CD, vinyl, digital or even 8 track or cassette! Yes, bands are even releasing cassettes again! We’ve been around since vinyl WAS the predominant format, and oh look, it is again!