[Comments have been added to the last
two posts, Tuesday 12:50 p.m.]
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Curiouser and curiouser: Vinyl records are continuing their improbable comeback.
Twelve-inch LPs (LP stands for for long-playing)—introduced in 1948, stereophonic from 1957—were eclipsed by cassette tapes in 1982, and then by CDs in 1987. CDs went on to outsell cassette tapes in 1991, and by 2002 held a dominant 95.7% share of the market. Vinyl records, which had at least two-thirds of the market until 1980, fell to a nadir of just .02% in 2005, and to all appearances were well on the way out.
But then vinyl started a modest resurgence. And the popularity of CDs began to plummet, first in the face of digital downloads, then because of streaming music.
Now, at the end of 2021, vinyl sales have beaten CDs for two years running, currently representing 6.6% of all music sales—the highest level since 1988. Vinyl records now account for two-thirds of revenue from physical formats. Vinyl also beats out single and album digital downloads from providers such as iTunes, which have fallen dramatically to a mere 4.2% of sales. (Did you know that iTunes is largely a thing of the past? I had not caught up to that fact until I wrote this yesterday.)
Streaming music, the latest king of all formats, set a new record at 83.8% of the market through the first half of this year.
Music sales peaked in 1999 at $24 billion, vs. $14 billion now. While consumers are getting more for less—assuming they prefer old music—most of the difference in those numbers, unfortunately, has come out of the pockets of musicians and other creators. This might be all right for the time being, but eventually it will have the effect of discouraging talented people from musical careers. But I guess that's a separate post.
The LP was nearly dead; long live the LP!
—Luddite Mike
Inset: the 30th Anniversary LP of Nirvana's Nevermind.
These are going very fast.
(Source of most info in this post: Mark J. Perry, AEI)
Products of the Week
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(To see all the comments, click on the "Comments" link below.)
Featured Comments from:
Lisa S. Gorrell: "I still buy vinyl whenever I can. The music sounds much better than digital CDs or downloads. I'm especially happy when the vinyl comes with a code for digital download, so I've got both worlds. (I still have all the vinyl I bought since I was a teen)."
David Dyer-Bennet: "1988, however, was five years after I gave up LPs and switched to CDs."
Mike replies: I decided to buy the first CD player that broke the $300 barrier. The first $299.99 player was the Sony D-5, which came out in late 1984. I bought the first one I could find for sale. But by that time, I had already purchased more than 20 Compact Discs—not an insignificant outlay as they cost $20–30 at the time! I loved that D-5, by the way, and never again owned a CD player I liked more.
David Dyer-Bennet replies to Mike: "Interestingly, I did exactly the same thing—started buying CDs months before I bought the player, and bought the first player I found under $300, that is. And my early purchases were all classical since that and really mainstream rock/pop were all that was available, and I mostly listened to electric folk and some prog rock. Different player, different year. But I've never looked back. Don't think I've had an LP on a turntable since, though I'm now thinking about whether I want to transfer any of the LPs I haven't replaced. Some of them I can't replace, and if I still remember the music then I probably want it available again."
Stéphane Bosman: "Re 'Eventually it will have the effect of discouraging talented people from musical careers': I think it has for quite some time. I do not see in the current production anything that comes close to what the giants of the '50s to '90s did in term of innovation, diversity, and creativity. Today's production is frankly of a lower level. It is even being studied as a phenomenon. It might be due to reduced glue, weed and acid usage, but I think it more likely that there is no more money for taking risks, to waste studio time, to give oddballs a chance. Mike Oldfield's Tubular Bells started the Virgin label. I don't expect anything like that happening again. Another consequences is that concerts have become unaffordable. When recorded music was profitable, concerts served as promotion for the records. Now it is the contrary."
Mike replies: I admire Rick and I watch a lot of his videos, but you have to admit it's kind of funny that a baby-boomer rock 'n' roller is lecturing the kids about the music being too simple! I suppose the older generation has always scolded the younger generation for not being deep enough. I seem to recall reading about a contemporary of Mozart's who scolded him for breaking rules with dissonances.
The book Perfecting Sound Forever by Greg Milner, one of my favorites on this topic, contains a section about the market forces that encourage cheap, fast production, even in classical music.
Robert Pillow: "I'd say vinyl is back. After I replaced an ailing turntable this month with a recent model to keep old vinyl in play, I was surprised to find 100 or so 180-gram LPs by various artists, including Led Zeppelin and Muddy Waters, at the local Wal-mart.
"By the way, this resurgence proves vinyl is long playing."
Chuck Albertson: "The last time I checked, musicians' royalties from vinyl releases were greater than from streaming services."
Paul De Zan: "I don't get the LP revival at all. I know a few twentysomethings who are buying LPs to play on equipment that can't possible do justice to them. Then they talk about how much better they sound. I would say they are about $10k in equipment away from that. The sales numbers are too big for the trend to be a hipster scam, though. Maybe it's about album artwork, the single greatest loss in the move to other formats. Personally I stopped buying LPs as soon as I knew CDs were going to happen. Click, pop, hiss...no thanks."
K4kafka: "A dearly missed element of the 'vinyl age' is the loss of album cover art. Some very creative photography on display in a 12" square format."
Mike replies: It's one of the ways Lee Friedlander got his start. Jay Maisel shot the cover of Kind of Blue. Brian Duffy did the cover of Aladdin Sane. We could go on and on here I'm sure....
Ben: "My vinyl heyday was right around (maybe just before) its nadir. Ahead of my time? Contrarian? Or just the right time in my life, and used records were cheap.
"It’s funny that record stores are a thing again now, though I think they all tend to make a bunch of their profit on discogs, or at least a bunch of the new ones raised the capital to start their brick-and-mortar stores through online sales. When my friend who did this to open a basement shop told me a few years back that he was going to quadruple or quintuple his rent to move to a street level in the more expensive part of town, I was floored. How could he make that rent selling vinyl? But he’s doing fine, even through the pandemic. It’s too bad so many of the great little shops didn’t survive the 'aughts and early teens…I think there’s also something to be said for how record stores themselves supported so many independent musicians simply by employing them! How many of your favorite local musicians worked at one of the local record stores?"
Bryan Geyer: "Do take note that the preponderance of the 2021 vinyl volume is unlike the classic LP market that we used to know. Current sales are heavily skewed by Generation Z buyers who pay $20–40 per disc for pop market records that come in vibrant colors and are often bundled with poster art. The scope is very limited. Only the most popular recording artists can consider the cost and complexity implicit in cutting vinyl today, so it's mostly Taylor Swift, et al, that drive the volume. It's a very trendy and restricted market; not nearly so impressive as the raw stats would seem to indicate."
Mike replies: There's no accounting for taste, of course, but I'll just observe that the 180-gram record section at Acoustic Sounds lists 5,367 products.
Dan Boney: "I have often found that the 'third generation' of many products is the 'sweet spot'; by then, real refinements have been made and afterwards it shifts to 'making it cheaper'...that’s a lot of what happened with CD players. Works out well with cameras as well—think of the Nikon F3, Leica M3, Olympus OM-3/4....
"One thing that I wonder about with new vinyl—are the releases actually from analog originals, or digital recordings just translated to analog for vinyl release?"