What is Vinyl Record
A vinyl record or a phonograph record, or a gramophone record is an analog sound storage medium in the form of a flat disc made of polyvinyl chloride (PVC) that contains analog recordings of music or other audio content with an inscribed modulated spiral groove.
Current Status of Vinyl Records in The Global Market
Over the years, due to the rise of digital format, Vinyl record demand decreased significantly. But it recovered its name because, in the last few years, more and more people have shown interest in old-groove music. Vinyl records are expensive but also durable and flexible plastic that is ideal for writing grooves that a turntable stylus can read. Now, let’s look into other different aspects of vinyl records in the consumer market.
Return of Retro and groove music
Even though new digital and multimedia music has become popular in the market, from time to time, people love to listen to a warmer and more authentic sound. Vinyl records produce a high-quality, unique sound and feel, which is popular among younger consumers who are interested in the vintage and timeless look of vinyl records. Also, those who grew up in the era of vinyl records have a special place for the tactile and immersive experience vinyl records offer.
Vinyl records are expensive mainly because of high production costs. But, with the rising disposable income, it is getting easier for collectors to get them. Vinyl records make a rare collector's item and are often sold in pawn shops because limited edition releases command high prices among collectors. Over the years, as the music industry grew, the number of record stores also increased, where physical music lovers could buy and discover new music in the vinyl format.
Among all music lovers, there are some who still seek out ways to listen to music in a physical format. It can be an interest or a hobby but, Vinyl records convert digital music collections into a tangible and enjoyable format. There are also some artists and record labels using vinyl records as part of a package deal with digital downloads or streaming subscriptions. This is creating an opportunity for the vinyl record market to grow.
All these factors discussed above produce more chances for the Vinyl record market to return to the global market. As more and more old people and young consumers start to show interest in Vinyl records these days the market has chances to expand.
Sneha Mali, LinkedIn
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
I am working as a Senior Research Analyst, mainly involved in conducting market research in the Information and Communication, and Technology domain. Skilled in Secondary Research, Primary Research, Data Analytics Research approaches with extensive experience providing first-class results. Highly focused, have analytical skills, and synergetic with positive energizers. Meets job demands and deadlines through diligent work-ethic and dedication to quality. Works with clients to determine requirements and provide excellent service.