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Vinyl: A Billion-Dollar Nostalgia Niche

13/05/2017
Vinyl: A Billion-Dollar Nostalgia Niche

Buyers from millennials to Baby Boomers are purchasing vinyl, although listening to music may not be the primary motivation. For some, vinyl is a unique form of expression in a digital age.

Vinyl, which reached peak sales in units and dollars in the late 1970s, will continue its remarkable resurgence in 2017, driven by consumer demand for collectibles. Deloitte Global predicts vinyl records and related accessories will generate approximately $1 billion globally in revenue for the first time this millennium.1 New and used records will account for more than 90 percent of this revenue, while turntables and accessories will make up the rest, according to Deloitte Global.2

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1. Deloitte Global estimate based on a variety of sources, including “News and Notes on 2016 Mid-Year RIAA Music Shipment and Revenue Statistics,” The Recording Industry Association of America, 23 September 2016; “UK vinyl sales up 61.8% YOY in Q1 2016,” Music Business Worldwide, 14 April 2016; “Germany: Industry hails ‘dynamic’ streaming in first-half figures,” Music Ally, 19 July 2016; “Global music report–State of the industry overview 2016,” IFPI, 5 May 2016.

2. Ibid