Someone posted this on the Shakin’ Street forum on the our message board, and I thought it was worth reposting here. Vinyl is now outselling CDs! From The Business:
Back in the groove
14 May 2006
Technology Editor Tony Glover reports how in the iPod age the record industry is going forward by returning to the days of vinyl
BESET by digital piracy and increasing customer reluctance to pay for CDs, the music industry is fighting back with its latest technology - black vinyl records.
Music labels and high street retailers are busy turning back the industry’s clock to a time not only before internet song downloads, but also before CDs or even audio cassettes. The irony is that the vinyl revolution is being led by teenage consumers who are prepared to stand in line for the latest 45 rpm single or 33 1/3rpm LP (long-playing record) in much the same way that their parents, or in some cases their grandparents, did.
According to Rob Campkin, the head of Music at Virgin Megastores, vinyl is now outselling CDs when it comes to the latest records.
“Up to 70% of sales of new releases are vinyl. The fans of popular new rock bands like Arctic Monkeys and The Raconteurs prefer vinyl to CD,” said Campkin. “When the Raconteurs’ latest single was released, 80% of high-street sales were for seven-inch vinyl and only 20% were for CDs.”
“We are not just talking about vinyl singles but also about albums - the format is just continuing to grow,” said HMV spokesman Gennaro Castaldo.
Click here to read the rest of the story.
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