Tag: boosting vinyl sales
New research suggests that streaming is boosting vinyl sales – but a lot of records being bought aren’t actually getting played.
This Saturday is the annual Record Store Day extravaganza, once again set to be marked with a slew of limited edition records, live performances and in-store events. But new research suggests that while more people, notably young people, are buying into vinyl, a lot of them aren’t actually playing the records.
An ICM poll, shared with the BBC, says 48% of people who bought vinyl last month have yet to play the record. Some 7% of those surveyed said they didn’t even own a turntable, while a further 41% said they have one but don’t use it. We humbly suggest people could rectify this situation with one of our recommended turntables.
Jordan Katende, a student, told BBC News: “I have vinyls [sic] in my room but it’s more for decor. I don’t actually play them.”
Meanwhile, while the record resurgence was driven by a desire to own something physical, nearly half of vinyl buyers (45%) said they had listened to the record on a streaming service before buying the physical copy, proving people still buy after they try – great news for Spotify and co.
As for where people are spending their money, despite the popularity of Record Store Day, which last year saw sales up 742% compared to the previous Saturday, only 7% of music is actually bought from a high street record shop. ICM reports 73% of music is bought online, with Amazon accounting for 27% of all music sales.
How old are vinyl buyers? The research reports around 33% of vinyl consumers fall in the 25-34 age bracket, while 22% of buyers are aged 35-44. 16% of vinyl buyers are aged 18-24. The poll also suggests – set face to ‘stunned’ – that more men than women are buying vinyl, but only just. Around 8% of men surveyed had bought vinyl in the last month, compared to around 5% of women.
In case there was any doubt, Andrew Wiseman, head of ICM Unlimited, told the BBC that vinyl remained relatively niche: “It is still the case that less than 1 in 10 people are buying vinyl, and we shouldn’t forget that it’s still a relatively small part of the market.”