Retro Rocks: Vinyl Sales Highest Since 2003 Thanks To Daft Punk & Arctic Monkeys
The revived format has enjoyed a renewed interest lately.
Annual sales of vinyl LPs has benefitted from a surge in sales in the past year, pushing the sales of records over the half million mark for the first time since 2003, reports The Independent. The regrowth in the popularity of the retro format is being attributed largely to releases from UK rockers Arctic Monkeys and French electronic act Daft Punk.
Arctic Monkeys Have Helped Vinyl Sales Recover.
"The LP is back in the groove," says Geoff Taylor - the chief executive of the BPI (British Phonographic Industry). "We're witnessing a renaissance for records - they're no longer retromania and are becoming the format of choice for more and more music fans. This year has been a treat for vinyl aficionados with releases from Daft Punk, David Bowie, Arctic Monkeys and Black Sabbath."
Aside from an increased interest in vintage and retro fashions of late, the vinyl's rise in popularity could also be thanks to the evolution of the format, as bands increasingly release deluxe editions of their records that make their music accessible on vinyl, CD and mp3.
Daft Punk's Incredible Year Has Seen Vinyl Sales Go Through The Roof.
Taylor explained where vinyl sales in the overall music market: "Whilst sales only account for a small percentage of the overall market, vinyl sales are growing fast as a new generation discovers the magic of 12 inch artwork, liner notes and the unique sound of analogue records, often accompanied by a download code for mp3s."
A reported near 550,000 LPs have been bought by music fans so far - an estimated 15,000 per week - in 2013, which represents the highest year of sales since 2003 (time the mp3 download market took off). The figures reflect a year-on-year growth of over 100 per cent which has doubled vinyl's market share in the last 12 months. LP album sales now account for 0.8% of the UK market; an enormous surge from the comparative 0.1% as recently as 2007.
Bowie's Comeback Was A Boon For Vinyl.
The relatively speedy renewed interest in the format is said to be partly due to Record Store Day: a one-day annual celebration of independent record shops held in April. This year, the day proved extremely popular as generated £2 million worth of vinyl sales itself alone. However, in an interesting twist, a recent BPI survey found that a number of regular vinyl purchasers don't actually own a turntable so cannot listen to their vinyl purchases.
Vinyl's popularity is predicted to only get stronger with a Christmas boost owing to new releases from Arcade Fire, Paul McCartney, Pearl Jam, and Jake Bugg.