What is driving the highest UK vinyl sales since 1990?

What is driving the highest UK vinyl sales since 1990?

What’s driving this revival in vinal do you think thank you well we’ve seen this growth for for 16 years now um and every time sort of we report that figures are going up I think that people respond to that uh we’re also seeing a kind of a

Much broader audience not just the Baby Boomers but a much younger demographic of consumers buying it so Millennials genz perhaps informed by their parents record collections they’re also discovering music on on streaming services that’s how most of us still consume our music but when we love an

Album or a particular artist we love to go to our local independent store on HMV and actually buy it we love to own collect uh and we just appreciate the kind of the warmth of the recording the brilliant uh sort of deluxe packaging it’s very limited edition very collectible record labels invested

Massively in producing beautiful works of art which is really what vinyl now is um and we live in this kind of golden age where you can stream you can buy CDs still vinyl and cassettes so we’ had incredible Choice both as uh as fans but

Also as artists yeah I mean that was a really interesting thing I thought about the research that you published today I mean CD the decline in CD sales appears to have uh plateaued meanwhile cassettes have sold nearly 100,000 units as well this year yeah I I think artists love to

Release on all formats and we as fans love to collect on all formats you know they’re the real super fans CD is really interesting because it’s been declining since its peak year of 2004 uh often with double digit drops but um in the last 12 months it was just 6% um drop so

That’s starting to bottom out as you say h and there’s a real sort of demand for for the D tangible product we as fans love to own and collect we love the ritual of going out to our shops or ordering online to buy it um and uh I

Think you know you can have a perfect world where we stream but at the same time we we actually own and collect the albums that we most love what I thought was really interesting as well janaro is that a lot of the vinyl that’s sold this year is actually from

New it’s new releases uh for example the new Rolling Stones are released hay diamonds yeah well I mean the stones are the perfect band for violent because Heritage acts rock bands tend to do very well also huge selling artist sort of likes a Taylor Swift or when she’s in Cy

Adell or Ed sheer and um another rock bands like raw blood or or or sort of um you know Liam Gallagher they tend to do very well but certainly there’s a whole new generation of talent coming through and they’re also selling very well uh on

Vyl the reality is that we as fans we love our music and however it’s released we love to actually be able to purchase it and collect and own it and it’s something that that we sort of keep for life so it’s just a a wonderful part of

Of of our music Heritage in this country but what is also fascinating is that people are buying releases which came out many many years ago in the vinyl format as well I mean I note that um Rumors by Fleetwood Mac is a very very strong seller I’m I’m amazed that no one

In the country is left that doesn’t have a copy of it to be honest no well quite it’s a perennial also I think Pink Floyd Dark Side of the Moon is in there that’s actually the next generation of of of fans who uh start to them those albums are new we

Might all have them in our collections I do um but if you’re 15 and you’re starting out and you’ve heard about Oasis or the stones or The Beetles then you want to buy you want to play it and what’s really interesting is that um maybe in the early days of the vinyl

Revival there was an aspect of novelty to it you heard story of people buying the albums to put in frames and put on the wall but now actually they want to hear that in sort of Premium quality sound they’re actually investing hugely uh in really sort of great speakers

Record players headphones by the likes of bals and Wilkins and others uh because they want to sort of actually hear that brilliant recorded sound as it was recorded in the studio as the artist intended telling their story on the album uh and I think what’s also interesting about albums is that that is

A whole body of work there’s an art that goes into it into writing it producing it recording it um and uh streams are obviously brilliant you can dip in and play lots of you know songs millions and millions of choices to to select from uh but at a time when we’re also talking

About Ai and the sort of possible challenge that it represents in the authenticity of music there is nothing more authentic than a recorded album that’s an artist who’s poured their heart and soul uh in into sort of writing the songs performing them presenting them so I think that’s why we

Uh consistently as a record Buy in public turn to albums doesn’t matter what generation we see real Beauty in them something that we like to own and collect we support our stores what was really brilliant earlier I was in the HMV store in Oxford Street has returned there after four years having originally

Cloned so we’re seeing more retail capacity grow again as well as online and as I say it’s perfect because we can stream as well so we have incredible Choice both as fans and consumers and also as artists who have never sort of had more opportunity to release their

Music than they do now janara you mentioned streaming there obviously there’s a long running sore in the industry about the amount of money that some artists are being paid by streaming platforms do the artists make more when their uh their music is sold via vinyl or CD or

Cassette uh no I think there’s been a lot of kind of misleading narrative around this essentially obviously if you’re selling CD vinyl you get a lot of upfront sales but streaming kind of gives you income over a much longer period of time uh and actually the royalty rates are higher typically on

Streaming bottom line is if you’re successful if you’re popular uh as many great artists are then you’re going to actually generate huge amounts of of interest and and revenue to go along with that um and in fact the BPI which also runs the Brit Awards and the Mercury prize we recently introduced an

Award called The Brit billion um for artists in the UK who have been streamed more than a billion times and so far we’ve given over 30 Awards but actually uh it’s in three figures that the number of awards that we’ll be given so that’s the real measure of success in streaming

And more and more artists are actually thriving off the Brack of streaming and at the same time they’re releasing uh CDs vinyl cassettes they’re touring they’re selling merchandise so there’s huge opportunities for artists and many more thriving thanks to the kind of ecosystem of music that we now have all

Right janaro before I let you go I know you’re a massive music fan what’s on your turn table right now uh Tom Spate a brilliant singer songwriter from West London just had a new album out he’s fantastic you should check him out

More vinyl LPs were bought this year in the UK than at any time since 1990.

The British Phonographic Industry (BPI) have broken down what is driving the latest rise in record sales in 2023.

Read more: https://news.sky.com/story/uk-vinyl-sales-at-highest-level-since-1990-as-taylor-swift-leads-the-way-13038565

#vinyl #sales #skynews

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