Browsing Tag

CD Revival

Is The Boom in CD & Vinyl Sales in the UK A Sign of Prosperous Times to Come?

Posted on 18 July 2024

It can be tempting to clutch at optimistic straws when there are signs the music industry isn’t following a depressing trajectory of decline, such as the resurgence in the sales of physical media, with CD & vinyl records charting impressive gains in the UK.

This revival, as recently indicated by the Entertainment Retailers Association (ERA), is a testament to a shifting consumer preference towards tangible music formats. However, is this trend a harbinger of a more prosperous era for the music industry, or merely a nostalgic blip in the digital-dominated landscape?

This article will examine the nuances of the freshly reported statistics and explore what they truly signify for the industry’s future, bearing in mind that for the music industry to be sustainable, emerging independent artists need a slice of the sonic pie.

The Resurgence of CD & Vinyl

It is undeniable that the latest figures from ERA paint a promising picture for physical music formats, with CD & vinyl sales experiencing a notable uplift. The first half of 2024 saw vinyl sales amassing £86.3 million, a 13.5% increase, while CD sales brought in £57.9 million, marking a 3.2% rise.

However, if you take the figures, which suggest a revitalisation of interest in physical media with a pinch of salt, you will see that the influx in sales is driven by more than a consumer shift towards more tactile forms of music consumption.

One of the main drivers of the increase in CD & vinyl sales was Taylor Swift releasing 19 physical variants of her latest album, The Tortured Poets Department, which included six vinyl, nine CD and four cassette variants. Since the album went on sale in April, Swift has managed to shift 2.47 million physical copies of her album. Undoubtedly, many of Swift’s diehard fans purchased as many physical copies as they could afford/get their hands on. This album release strategy, which inflates album sales, has come under fire recently, with several industry figures, including Billie Eilish commenting on how insidious the trend is.

“I find it really frustrating as somebody who goes out of my way to be sustainable and do the best that I can and try to involve everybody in my team in being sustainable – and then it’s some of the biggest artists in the world making 40 different vinyl packages that have a different unique thing just to get you to keep buying more.”

Another key driver of physical sales was Record Store Day, which was primed to be the biggest RSD event to date and anticipated to inject £10 million into independent record shops. However, just because RSD favours independent record stores, independent artists rarely get a look in, and once again Swiftonomics played their part in the success of RSD 2024 with a limited edition copy of her album being the reason that many music fans hit record stores in their droves, simply to procure a copy of the album with the note “Happy Record Store Day!”

The Illusion of a Booming Industry

While the uptick in physical sales might suggest a thriving industry, it’s essential to tread cautiously with your optimism. The broader perspective reveals that this rise occurs against a backdrop of overall decline since the industry’s peak in 1999.

Moreover, despite the growth in physical sales, the industry is still heavily skewed towards streaming, which accounted for 84% of UK music retail revenues in 2023; as it is almost impossible to earn a living wage from streaming royalties, the music industry is still very much a hostile economic environment for independent and grassroots artists.

Therefore, the disparity between physical sales and streams which sees many music fans foregoing physical releases for the convenience and low cost of streaming services, suggests that the increase in physical sales may not signify a comprehensive industry recovery but rather a niche revival fuelled by specific market drivers, such as those outlined above.

The Nostalgic Overhang

It is also crucial to note how the nostalgia factor significantly contributes to the resurgence of vinyl and CDs. Older tracks and classic albums continue to dominate sales, potentially stifling new music’s market penetration and influence. This trend towards nostalgia can be a double-edged sword: it bolsters sales figures while possibly hindering the diversity and evolution of music offerings. Thus, while there’s an aural appetite for old favourites, it’s imperative to consider what this means for new artists and music innovation.

Independent Artists and the Trickle-Down Effect

Despite the rosy picture painted by raw sales figures, the reality for independent artists remains markedly different. The boon seen by flagship artists and big-ticket events like those associated with Taylor Swift does not necessarily trickle down to smaller, independent artists who often remain on the fringes of these economic uplifts. This scenario raises questions about the equity and distribution of wealth within the industry, suggesting a need for more inclusive growth strategies that support a broader array of artists. We have already written extensively about the dire state of the talent pipeline in the UK; however, there seems to be no clear course for recourse that will take indie music back to its 90s glory.

Conclusion

As nostalgia and globally revered artists hold the monopoly of the music industry and project an illusion of growth into the sonic economy, it is crucial to consider the industry’s underlying challenges, instead of taking the figures as a reflection of a universally prosperous landscape for all artists involved. As we look forward, it is crucial for stakeholders to foster a more sustainable and inclusive environment that supports both the old and new facets of music, ensuring that this resurgence is not just a fleeting echo of the past, but a stepping stone to a robust and equitable industry.

Article by Amelia Vandergast

Were Impulse Buys in Record Stores the Golden Age of Music Discovery?

Posted on 21 April 2024

Most music fans over the age of 30 can fondly recollect heading to their local record store, browsing the vinyl, cassettes or CDs and making impulse buys on the aesthetics of a physical release alone, but were these bygone era days the golden age of music discovery or do we have rose-tinted glasses on the reflections of our experiences?

In this article, we will cover the pros and cons of the impulse-buying music discovery era before looking into the new ways of music discovery, which are infinitely more cost-effective and environmentally friendly, even if the magic of the tangible experience of heading home with your new potentially favourite record has become lost.

Pros of the Impulse Buying Era of Music Discovery

Tangible Discovery Experiences:

Physical browsing for new music from unknown bands used to provide music fans with a sensory experience that digital platforms struggle to replicate. The tactile feel of flipping through albums and the visual appeal of album art in a record store created a memorable and engaging way to discover music.

Holding an album, admiring its artwork, and reading liner notes create a deeper connection to the music. Physical media artefacts become personal treasures, embodying memories and emotions tied to specific times or events in one’s life. Moreover, the ritual of playing a vinyl record or inserting a CD involves an intentional act of listening that digital streaming often lacks, encouraging a more immersive and focused appreciation of the music.

Artist Revenue & Album Sales

The sale of physical media often resulted in higher per-unit profits for artists and labels, compared to the fractions of a cent earned per stream on most digital platforms today. Furthermore, fans often purchased whole albums rather than single tracks, which benefited artists by promoting a deeper engagement with their work, as well as financially through fuller album sales.

Local Economy Support:

Music stores, especially independent ones, thrived as cultural hubs in communities, supporting local economies and offering music lovers a place to gather and share their interests. In these vibrant spaces, people of all ages and backgrounds could meet, fostering a sense of belonging and community through shared musical interests. Browsing through rows of records offered an immersive experience that encouraged spontaneous conversations and recommendations, leading to the discovery of new artists and genres.

In contrast, today’s digital landscape often promotes a more solitary engagement with music. Streaming services provide convenience and access but lack the interactive, communal atmosphere of record stores. The personal connections once made over album bins are replaced by algorithmic recommendations, leading to a more isolated and less serendipitous experience of music discovery. This shift has diminished the communal aspects of music consumption, making the nostalgic appeal of record stores even more profound for those who remember them.

Cons of Impulse Buying Era

Limited Access and Selection:

The selection was often limited to what was available in the store, which could be constrained by geographical location and store size. This limited fans’ exposure to diverse or international music scenes. The digital age has democratised music production and distribution, allowing independent and niche artists to reach audiences without the need for traditional record labels. This change has enabled many artists to carve out sustainable careers by directly engaging with their fanbase, utilising platforms like Bandcamp, Patreon, and social media for promotion and sales.

Higher Cost:

Physical media costs significantly more than making digital purchases or enjoying music via streaming services. Now, if we’re broke, we don’t have to worry about missing out on new releases, we can stream them for free or for a minimal fee that unlocks access to millions of artists. Archetypes like the ’50-quid-man’ used to help keep the industry afloat by buying a fistful of CDS every month, and while those kinds of consumers still exist, artists and bands can no longer rely on them.

Inefficiency and Environmental Impact:

Producing vinyl, CDs, and cassettes involves physical materials and manufacturing, which have a larger environmental footprint than digital downloads and streaming. During the 1990s and early 2000s, it was common practice for record labels to overproduce physical media anticipating high demand. When sales projections did not pan out, excess stock was often destroyed or discarded.

Digital Era: A New Landscape

Accessibility and Convenience:

Digital music platforms allow instant access to a vast array of music from around the world, which is especially beneficial for niche and emerging artists who can reach a global audience without the need for physical distribution.

Lower Costs and Less Space:

Digital music eliminates the need for physical storage space and is generally cheaper for consumers, allowing more expansive music collections. While many music fans take immense amounts of pride in their music collections, let’s spare a thought for all of the CD buyers who spent thousands on their collections only to grow out of the purchases and realise that the resale value is dire.

Artist Discovery and Diversity:

Love them or loathe them, streaming services and online platforms can offer sophisticated algorithms that help users discover music that aligns with their tastes, potentially introducing them to a wider range of artists and genres than they might encounter in a physical store.

Conclusion

While there are nostalgic and qualitative benefits to the era of impulse buying in music stores, the digital age offers substantial advantages in terms of accessibility, cost, and diversity.

Of course, there is nothing stopping you from heading down to your local independent record store and taking your chance on an artist by the look of the artwork alone; the fact that this has become much less of a music discovery phenomenon proves that the more contemporary modes of music discovery are far better for music fans – even if the big label artists do suffer as a result and need to rely on touring and merchandising more.

Article by Amelia Vandergast