Appearing Courtesy of Myself: Wax Eloquent
Sean Ryon
Issue date: 9/11/09 Section: A&E
It's no great secret that the record is in dire straits. According to an article published by DigitalMusicNews.com in January 2009, CD sales have plummeted 54.6 percent, approximately 514.6 million units, since 2000. When with coupled the success of illegal downloading services like Limewire and online stores like iTunes that offer the purchase of songs on an individual basis, it's become even unprofitable for companies to pour and time money into full albums.
Yet all hope is not lost. The record industry has an ace up its sleeve, one of which has potential few labels have recognized. For the past three years, vinyl record sales have been on a small but dramatic rise in sales. According to Nielson SoundScan, in 2008 alone, the number of vinyl records sold nearly doubled, increasing from 990,000 units to 1.88 million units. While such numbers pale in comparison to the numbers of CDs and MP3s sold in 2008 (360.6 million and 65.8 million, respectively), the sheer percentage increase was enough to garner vinyl records a second look. In addition, while the majority of CDs and MP3s were purchased via large mainstream companies, the majority of LPs sold in 2008 were purchased through independent outlets.
"[The recent jump in sales] was probably the biggest shock over at Fat Beats," said James Heinz, better known as J57, emcee and producer of hip-hop group Brown Bag AllStars and clerk at the world-famous Fat Beats record store in New York City. "We found out it was all due to rock and roll vinyl. Of course, there are tons of hip-hop vinyl collectors out there…but once rock and roll labels began putting out 'limited edition' vinyl[s]…the sales increased tremendously."
The recent rise in independently sold vinyl records may prove to be the glimmer of life needed to revive the record industry. Major labels must simply look to the independents for evidence. From punk rock flagships like Epitaph and Fat Wreck Chords, to lo-fi bastions like Sub Pop, to even hard-hitting hip-hop mainstays like Duck Down and Fat Beats, independent record labels have all found financial success with vinyl records. Even some major labels, including Def Jam and Interscope, have found cash in black wax.
Yet all hope is not lost. The record industry has an ace up its sleeve, one of which has potential few labels have recognized. For the past three years, vinyl record sales have been on a small but dramatic rise in sales. According to Nielson SoundScan, in 2008 alone, the number of vinyl records sold nearly doubled, increasing from 990,000 units to 1.88 million units. While such numbers pale in comparison to the numbers of CDs and MP3s sold in 2008 (360.6 million and 65.8 million, respectively), the sheer percentage increase was enough to garner vinyl records a second look. In addition, while the majority of CDs and MP3s were purchased via large mainstream companies, the majority of LPs sold in 2008 were purchased through independent outlets.
"[The recent jump in sales] was probably the biggest shock over at Fat Beats," said James Heinz, better known as J57, emcee and producer of hip-hop group Brown Bag AllStars and clerk at the world-famous Fat Beats record store in New York City. "We found out it was all due to rock and roll vinyl. Of course, there are tons of hip-hop vinyl collectors out there…but once rock and roll labels began putting out 'limited edition' vinyl[s]…the sales increased tremendously."
The recent rise in independently sold vinyl records may prove to be the glimmer of life needed to revive the record industry. Major labels must simply look to the independents for evidence. From punk rock flagships like Epitaph and Fat Wreck Chords, to lo-fi bastions like Sub Pop, to even hard-hitting hip-hop mainstays like Duck Down and Fat Beats, independent record labels have all found financial success with vinyl records. Even some major labels, including Def Jam and Interscope, have found cash in black wax.
Be the first to comment on this story