Every aspect of the music industry, whether it is throwing music events, maintaining a media outlet, or something as simple as giving the public what they want, involves one aspect that encompasses it all–the music. Though the music industry seems to have increased drastically by the reemergence of vinyl, sales produced from stores such as Urban Outfitters and Barnes & Noble which seem to attract a younger generation of consumers–a generation that sometimes overlooks the art of a record. A quick Google search can bring to light the reality of the music industry and how vinyl is not saving it.
Analyzed statistical values of music
In an article from MIDIA, it is stated that “not only is vinyl not the future, it was just 2.6% of sales in 2016.” In fact, artists such as Justin Bieber and Drake, topped streaming numbers in 2016. Some other top albums listed are artists like David Bowie, Elvis Pressley, and Coldplay. In another article posted in 2016 by IFPI news, “digital sales contribute 45% of industrrevenues overtaking physical’s 39% share.” In 2015, digital formats of music took over physical formats of music for the first time. IFPI also reported that in 2016, “Global Music Reported a 10.2% rise in digital revenues to $6.7 billion, with a 45.2 percent increase in streaming revenue. This led to the industries first recognized growth in nearly two decades. A chart entitled, “The Death of Purchased Music”, for 2013-2014 by an article posted in The Atlantic, shows how streaming has significantly impacted the music industry by a landslide and how physical copies are at an enormous downfall. Digital music is clearly the primary form of music. Illegal downloads plays a huge role in that downfall.
Motivation through local music
In an interview with Henry Roland with “Henry + The Invisibles”, he stated that “with vinyl, there is an analog warmth that cannot be replicated unless you listen to music on vinyl, or hold a physical piece of music or artwork”. Because that is what vinyl has become, an art that is overlooked. With local artists around the world, it is important for them to enhance the art in their local community and show people that music is a community effort. If it is not, records will sky rocket such as My Bloody Valentines “Loveless”, which is on sale for $42. Or for the new XX record which is also priced at $44. Henry further stated that “a lot of people are streaming music now and its taking over and right now if you want music, it is either a digital format or vinyl. If you want the art, you will get a vinyl record and CD’s aren’t hanging around much longer”. With physical copies at a downfall, streaming has clearly taken over the music business.
(photo courtesy of End Of An Ear Records)