I own a small shop in Northern Massachusetts. We’ve been open for 3+ years and I can say that sales are definitely slower. We are down maybe 2-3 percent this year over last. First quarter of the year was great, second quarter okay, and third quarter we have seen a slowdown. We had good year over year growth first three years. Holding out hope that the Christmas shopping season comes to the rescue.
What ticks me off is the prices are high and yet they lack on Quality Control. Many new records are warped and with scuffs right out of the shrink wrap. I know many people who no longer purchase vinyl records for this reason and prefer CDs instead.
Sales are down 33% because prices are at least 33% more expensive. The records industry is just shooting themselves in the foot with the same gun they used when they started charging 18 dollars for CD's in the late 90's/early 2000's. When the average release is 40 bucks the value is just not there anymore. Also, with the insane cost of living, there just less money to spend on frivilous luxury items like vinyl.
If sales are off, my personal feelings as a collector, is the pricing is too high, there's too many reissues of the same thing being released over and over. I've been collecting since I was 6 years old. I'm now 62. I'm not a cheap guy. If a certain release comes out that's worth spending the money on, I will do it! I've managed record stores in my lifetime like Zig Zag Records in Brooklyn, NY, and Colony Records in NYC. I know a thing or two about the record industry, and it's certainly changed. I remember going to local department stores like Korvettes which had the best record department in all of New York, and their prices were great. This is why in the 70's and 80's certain titles sold millions! If you're going to charge us a lot for an album, then make it worth the money! I'm just being honest about this!
Wow I remember Colony Records, my friend is a musician and we use come in all time for him to buy sheet music. You're correct about Korvettes and also Gimbels. I did shop at the Sam Goody down the block from Colony. Damm those were the days 😄
Spot on 🎉and I am 63 and also retired from the music industry.…. It’s the same old song at dance. The record industry kills the golden golden goose again.😢
@@analoguecity3454don’t underestimate CDs. They carry few benefits that vinyl doesn’t deal well with. I personally appreciate the best in each of the mediums. Btw high resolution discs like SACDs and Blu ray Audios are formidable.
I totally agree. I work at a shop in Michigan and we’re experiencing the same. I think pricing is a huge part of it. I’m seeing lots of people coming in to sell records they bought, and no longer need, while they were flush with federal stimulus check money. Times change.
Mike you hit the nail on the head record collecting is a physical pleasure because it’s music history that gets passed down from one listener to another. It’s like reading a book turning the pages where on a kindle it’s just reading lol
I did a lot of shopping for used records in 2021-22, to the point where I have pretty much everything I wanted. I still buy new records, but I struggle to find anything I want from the RSD releases. I use that online store for new classical releases because local record stores shy away from that genre
The dollar's purchasing power is down 40% vs Gold and Silver year to date. Credit Card debt is way up and the consumer is being squeezed harder and harder as food prices are way up. Rent is up and people in general have less cash to spend. Look at how bad restaurants are doing nationally. Wages are down in real terms. The government interest on the debt has justt hit $1 trillion per year. I hate to be the bearer of bad news, but the economy is breaking and something is going to give.
CDs stink, why deal with archaic CDs when you can stream 3 times the sound quality on "Quobuz" and "tidal"! Redbook is not good enough! CDs were rushed out on the market, and 44.1k 16 bit was never good enough for proper hi-fi!
@@analoguecity3454 well for me cd quality is good enough with a good transport and dac and yes I’ve got qubuz which I use a lot and using my tt less often.
Greetings Mike. Great vid (as usual) You always speak honestly and from the heart - much appreciated. I am a 'baby boomer' 1950. I was lucky enough to be a teenager and a young adult in (what I consider) the greatest music and hifi equipment era ever (stereo wars) . I was heavy into both buying and upgrading hifi gear and buying LP records. When co-workers would question my lust for buying LP records most every week, I would state "I am spending less or maybe equal to the average smoker spending on cigarettes" (in Canada eh where taxes were higher on cigarettes and alcohol - paying into our universal health care) The same analogy regarding daily drinkers in that era. I still have and enjoy my LP records (trimmed down over the years and caught up in the CD era of the day) but....and a big but, I still have and enjoy my LP records and the smokers and heavier than average drinkers have, on average probably have felt the daily effects of poorer health outcomes over time. Keep on keeping on!
Sales are down for sure, lot of sales/clearance going on for new stuff. People are dumping used too, EBay auctions are getting lower prices, lot of minty Blue Notes going for way less than they would’ve a year ago. A number of my friends that have collected for 30 years have called it quits. Stuff is sitting at record shows too.
I checked my vinyl purchase history from 10 years ago on Amazon. Some MoFi Dylan releases were 30 Canadian dollars. Today, almost every new release is between $50 or $60 or more. My salary did not double in last 10 years. The new The Cure preorder is $60 Canadian for standard black vinyl. I cut down on vinyl purchases significantly.
It's perfectly viable to sell a record for $20 profitably, I've bought dozens for around that price direct from artists in recent years. The problem is (whether it's the artists or labels) so few new releases are a single piece of black vinyl - it has to be a 2 disc set or (at least) three variants, some of which are needlessly limited and on and on, it's just gone too far. Then the reissues, particularly Jazz, silly prices because they know the kind of people who want those records really want them and will forgo buying three rock/pop albums to get one Mingus album for the same price.
And, I noticed that the record companies are also seeing that the Consumer is complaining about prices. Rhino Records have a series called Now Playing, which is a series of Hits collections that are very affordable. Remember back in the day when record companies had certain product like Sony had the Nice Price Series, Warners had Super Savers, Capitol also had a budget series. The record companies need to take another look at all those Discount series that the labels once offered.
I thinking pricing is certainly part of it - plus the impact of overall inflation (food, housing, etc.) Another thing is that a consumer (like myself) who started ramping up during Covid has likely bought too much for now (here I am speaking for myself). I need to “shop” my own collection and listen to what I already have. I will continue to buy, but likely at half the rate.
Gas prices, energy monthly bills, even my water bill has skyrocketed, bloody tap water is getting ridiculously expensive, but I live in Commiefornia so I guess I deserve it.
The cost of manufacturing vinyl records is very high, profit margin is not that great, even with higher prices. Govt. regulations in blue states cripple companies to the point that they close shop and re-open elsewhere.
Things are down for whatever the reason. Even Vinyl UA-camrs aren't making as much content anymore. It has reached its peak and we are headed downhill at the moment. I've been buying records since 1973, 51 years. The business wont lose us old guys.
Think the original pressings are still in high demand. Reissues are a different market. People still want original pressings of classic or collectible records.
High prices, double albums should not cost double, every artist new release is 2 LPs now. On the used front, record store owners depending on Discogs to make as much money. No hidden gems anymore, even used is over priced. Those are my thoughts from a buyer.
Yea some prices are up but I have been buying music since the 1970’s I was never a fan of when music went streaming I like having the music in my hands. When I started to buy download for a bit in the late 90’s n early 00’s I realize when I change devices I lost some of my music I bought. Yet I still have all my music from 50 years ago, I stick to having the item in my hand a much happy experience. I never bought to collect I buy to listen to my music. I like the state of music now just wish there were more record stores, I drive 40 minutes to my nearest store or buy from the Ingroove.
I just sorted and boxed over 2000 VHS and DVD.How in the blazes do I get room for vinyl records? I think everyone got what they wanted, Did I miss RSD? All of this aside, my Goodwill has taken every one of their LPs and 45 for internet sales. I have only B&N to buy decent records locally. What it really boils down to is everyone bought their fancy player, top titles to put on their IKEA/special shelves and ran out of room to add any more.
So this is just me personally. I’ve bought more records this year than ever. And I’ve been collecting since I was 11 and now I’m 42. But I’ve focused on spending my money solely on audiophile records ( Atlantic 75, UHQR, Impex, MoFi) and good clean originals from my local record store and Discogs. What I have backed off on is so many of these new releases from the big labels. If I like a new album enough I will get it . But paying almost the same price as an analog productions reissue, with great mastering and tip on jacket, as a new release with a flimsy jacket, noisy vinyl, and just plain passable music. The market is over saturated with the sub par from digital releases that the big companies are putting no care into to just capitalize on the cash grab. I mean there are some great affordable non audiophile label releases lately , Sheryl Crow, Paula Cole, 10,000 maniacs. It can be done, if they would do it. Not 40 dollars on a noisy eco vinyl Billie Elish album. But I also know the industry cannot just survive on reissues alone. This of course is coming from a buyer and not a store owner. Just my opinion.
The vinyl mania peak ended with the release of the Adele triple vinyl in 2022 and all the lofty expectations of huge sales only to gather dust at at the stores and a likely dollar binner in the future.
No one seems to understand inflation. We all were so used to new albums being $15, yet not every artist pressed vinyl. So let me break down the cost. If you were old enough in the last 80s early 90s you may remember what our wages were and may remember the cost of a record, cassette, or CD then. In 1990 i had my first job . The pay was $3.80 an hour. An album ranged in price from 8.99 to 13.99 depending on the artist and the store it was purchased at. CDs were still between 14.99 and 18.99 but there was certain oldies you could get for 9.99 to 11.99 and cassettes were huge so they were the cheapest, but also cheap in quality. They ranged from 5.99 to 9.99. So based on my wage i had to work a few hours to afford any of these physical products. Fast forward 34 years later. I now have many bills to pay and my hourly pay lets me buy quite a few things monthly. I have no children so no expense there. Now starting wages in most states are between 12.00 to 15.00. $14.65 in mine. So a teenager getting their first job still hs to work 2 to 4 hours same as i did back in the day to afford an album. Prices arent anymore expensive, we as adults just dont have as much free flowing cash as our teen years. Does anyone understand this? Seems as if many dont!
CPI Inflation: $7.99 in Jan 1980 = $32.38 in Sep 2024. Many of us were just spoiled for 10 plus years digging up used treasures for under $5 or $10. Crate digging was the most fun for this cowboy!
I’m noticing that prices are starting to retrace a bit on used records, which is a trend I hope continues. There are a lot more copies floating around again from people who’ve come and gone and sold their collections.
The reason is low 33%, because is the insane price they asking for it ! People still love music but is looking for cheap way to appreciate it. Like streaming music services
I the 90s, I bought vinyl like crazy everywhere I could. The typical price was $1 or Less ! As much as a bought back then, I still wish I could go back in time and buy more.
None of these vinyl sales “insiders” ever take into consideration the amount of used vinyl is sold. They never indicate that it’s only new vinyl that they are talking about. Used vinyl sales gotta be through the roof…as are the margins on it.
I've had to cut back on ordering due to economy/inflation and employment uncertainty. Had to cut bk on items that aren't a necessity for the time being.
Bought more this year than ever, what’s awesome is the choices available now of brilliant audiophile recordings. What pisses me off, is the QC, I had 34 records delivered from my go to U.K. guy last week, 5 warped, 2 of those also full op pops and clicks and 2 others duff. I bought a cheap flattener from a small US company, has been in constant use this week, 4 hours per record but worked pretty good.
This is all good news I believe. The quality of the pressings of new releases have gone up recently. And now there's a new great pressing plant in Denver that Dave Rawlings co-owns! Just got my first from them! The new Gillian Welch/Dave Ralwings album. Well done!
My buying is down compared to the last three years by choice. I am no longer chasing down grails, at least for now. I spent waaaaay too much money between July 2020 and the end of December 2023. Most of the audiophile records I bought above retail because they were gaining value, are essentially worth less than what I paid for them now, because 75% of it is back in print. Now, I bought one copy, for me, to keep, no duplicates. I wasn’t buying to flip, and I did expect a lot of the records I bought to come back down, I just thought it would’ve been years. This is a good thing for record buyers.
The cost of going to live gigs is crazy £80+. And the cost of EVERYTHING is nuts, eating out is insane. Vinyl will always have an emotional connection, just wish they were a little cheaper!
I've spent more on vinyl in 2024 than I did in 2022 and 2023 combined. I've heard those stats aren't correct because they've changed how they collect the data. If you go by how they did it in 2023 it supposedly up 6% in 2024
I sold off my vinyl collection this year (made a pretty penny!) and stopped buying. i'm not paying 30-50 bucks for an LP when i can find a lossless digital version online or old CD with superior mastering to rip and save. Pressing issues and prices turned me off of the hobby. I still loive and watch your videos so i know what new releases to grab.
Always cool to hear your thoughts on these matter, many thanks Mike ✌️🤘 i wish more people would just enjoy the music and quit worrying about $hit like this, but whatta ya gonna do?..😂
Prices have snowballed meaning I buy fewer pieces, physical quality is declining rapidly but honestly, there has been so very little released this year that I wanted to buy.
Is expensive and that's it ,this video could be 5 min to be honest, even the used ones and in poor state wich is very hard on vinyl i used to buy used vinyl for 5 dollars and now they want 17 dollars the ones 25 plus audiophile 60 plus is crazy keep at it and digital is going to eat the cake again
It’s possible that indeed sales of new records are down due to a decreased demand for McCartney III on a new color vinyl, or people are sick of picture discs instead of the actual album, or the increased prices, or the flood of Taylor swift and obscure crap nobody knows, or the same Elton John LPs you can find for the $5 bin which even there they don’t sell. Also on record store day it seems like they release backlogged crap that has no value or yet another live album that wasn’t good to release back then and is now being peddled as it did now. Also, it may just be that people would rather buy used records , or may be experiencing fatigue; they bought all these albums but haven’t had time to play them, or the sound quality is crap. Or they are going through financial hardships - you can’t eat a record. Or they may also be buying used CDs. Or they may already bought all the albums they wanted to complete their collections. And I’m sure there’ll be many other reasons why people are not buying new records as much as they’re did in past years. Even I have a hard time finding a suitable quiet time to play the new stuff I brought home from a record fair.
I own a record store too and still sales are going up.. we don’t sell second hand, only new. Cd’s are stable, not going down, maybe a bit up. Haha.. 2020 was hard, also because we also moved with our store and then we could open on steady hours again . Booming, and yes, there was shortage of releases at that time.. that’s all solved now. I had never people who bought 2 of the same item, maybe flippers don’t live here 🤪. I think it’s a typical USA “problem” .
I would have thought that unit sales would be the way to determine sales. Reporting the dollar figurea may be up, due to the inflated prices by the labels.
I remember when the p hit and folks were saying “This is going to burst the vinyl bubble!! Prices are going to bottom out!!!” I was like “uh no. It just wont sustain like it is now and most likely there will be a new “normal” for prices” And here we are. Now many of the same folks that panicked during the P are saying “See sales are failing!!” Yet, sales are a marginally better than they ever have been. As with most exaggerations and emotional driven conclusions, the truth lies somewhere in the middle. Vinyl will be fine. Its has been a niche market for decades. One two year exception of crazy sales or a drop from those crazy sales is not the demise of the vinyl hobby.
Paying $30 to $35 or more for a new album on vinyl is excessive. Music labels tried cashing in on the resurgence of nostalgia for the analog format. I care about audio quality but I'm going to pass on the high cost of records when I can buy WAVs, FLACs, or CDs for 1/3 of the cost of vinyl.
I'm sympathetic toward your cause. Hope things go well and according toward your budget. I started my new storage / hi-fi room with a 325k budget, but ended up spending 649k. I wanted the best for my Walmart Crosley turntable :)
Screw bitcoin, when you can’t afford groceries and gas, and housing costs going up, well, guess what happens to extraneous purchases? They’re no longer an option, and when you combine that with the free cost of streaming music as a music fan, you are left with one option, all while watching UA-cam videos on the state of vinyl records just to keep engaged with what you love but can’t get, kind of like the hot girl who’s beyond your means, but maybe one day…. All of you who can still afford vinyls, you are doing much better than most.
I already have most everything I want, so for me to purchase, it has to be something special and interesting - case in point - that latest Jacob Wendt release was a nice addition - also Hugh Masekela Hope - it better be great music front to back and sound amazing otherwise I pass
Actually, I think the price for vinyl records is pretty much right where it should be. In the 80s, records were around $9-$10 so if they're now around $20-25, I think that's fair. Yes, the prices are high but only compared to what younger people are used to today, which is little to nothing. Artists need to be paid.
Music Lover 1st and foremost, "collector second!". 1. Too many reissues 2. Like the original Lp to CD shift back in the day, the music quality and substance is lacking, production quality is worsening, and I feel like things are on vinyl for the sake of being on vinyl. 4. Streaming is very enjoyable and I can chill for hours without getting out of the listening chair to flip the Lp.
Example; Atlantic anniversary series. $60.00 for a Bad Company, Yes, CSN etc etc?! I love these bands but they're common records that sound fine originally and can be found easily. The new BlueNote box, 1 Lee Morgan record and a bunch of filler, $225.00!! Prices are crazy imo.
Those are premium editions. Many new artists and albums in the $20-30 range being released every week. I just visited 8 record stores in Los Angeles with lots of used records under $10 or 15. Of course rare collectibles are higher.
And, The whole limited edition thing is starting to turn a lot of buyers off. We use to get the FOMO (Fear of Missing Out) Feeling, but after a while, that wears on you to the point where you say if I get one fine. If not, it's also fine! We run out early in the morning on RSD, only to see those items reissued at a later date. I challenge anyone to argue my point!
I think 80's and 90's vinyl albums are up. Why? Because the young people who are into vinyl, like that music. Depeche Mode, Duran Duran, Alphaville, New Order, The Cure etc are popular among the young generation. But a lot of records that was bought in the 70's like prog rock, psyche, Frank Zappa, fusion rock etc are down. Led Zeppelin, Black Sabbath and Kraftwerk are still very popular though. This is what I have experienced when I sell records from my own collection. But it is definitely harder to sell vinyl these days and if you are downsizing your collection like I am, maybe it is time start selling now!
First off, its not only vinyl thats high priced! Look in the grocery stores! Last but not least, after further "proper" research, sales are up six percent, they expect by Christmas it will be eleven! People run with the first thing they hear, thats why we in the shape were in!😮
Dabbled in vinyls since the 80s, then in 2020, working from home got a new high end turntable since I spent so much time at home. Had the means - bought audiophile MoFi etc on secondary market for too much - sometimes lucked out and got them directly from MoFi, or from you Mike. But the whole disingenuous and smug response from MoFi made me as a consumer never buy from them again, and the flippers and repressing of OOPs was salt in the wound. Now my collection is most of what I want, going back in the office 4 days a week, so streaming more again. That’s my story. Will always buy from the in groove and love the all tube pressings.
When i collected in the 70's and 80's it was a more working class hobby. It's been transformed into a expensive, elitists hobby.
Sales are down because prices are WAY TOO HIGH.....
This...
This.
Particularly when CDs cost 1/3 to 1/4 as much.
This was an mistake, the real figure was 6% growth
Simple
I own a small shop in Northern Massachusetts. We’ve been open for 3+ years and I can say that sales are definitely slower. We are down maybe 2-3 percent this year over last. First quarter of the year was great, second quarter okay, and third quarter we have seen a slowdown. We had good year over year growth first three years. Holding out hope that the Christmas shopping season comes to the rescue.
What ticks me off is the prices are high and yet they lack on Quality Control. Many new records are warped and with scuffs right out of the shrink wrap. I know many people who no longer purchase vinyl records for this reason and prefer CDs instead.
Sales are down 33% because prices are at least 33% more expensive. The records industry is just shooting themselves in the foot with the same gun they used when they started charging 18 dollars for CD's in the late 90's/early 2000's. When the average release is 40 bucks the value is just not there anymore. Also, with the insane cost of living, there just less money to spend on frivilous luxury items like vinyl.
That story is false, it's up 6%! That story is "fake news"!
Don’t call vinyl collecting frivolous lol
going from $15 to $35 for a new record in 10 years could be why
Gimme a break, literally everything has gone up. Blame government
You can't keep the same price on things forever! Prices in the 80s 90s are not the same now!
@@analoguecity3454 problem being, people aren't getting pay raises to reflect that. Vinyls getting the boot then!
If sales are off, my personal feelings as a collector, is the pricing is too high, there's too many reissues of the same thing being released over and over. I've been collecting since I was 6 years old. I'm now 62. I'm not a cheap guy. If a certain release comes out that's worth spending the money on, I will do it! I've managed record stores in my lifetime like Zig Zag Records in Brooklyn, NY, and Colony Records in NYC. I know a thing or two about the record industry, and it's certainly changed. I remember going to local department stores like Korvettes which had the best record department in all of New York, and their prices were great. This is why in the 70's and 80's certain titles sold millions! If you're going to charge us a lot for an album, then make it worth the money! I'm just being honest about this!
Wow I remember Colony Records, my friend is a musician and we use come in all time for him to buy sheet music. You're correct about Korvettes and also Gimbels. I did shop at the Sam Goody down the block from Colony. Damm those were the days 😄
@@mr.jazzfusionhiphop1298 I was at Colony Records from 1987 to 2000 as a Night Manager, and also worked sometimes during the days on the weekend!
Loved shopping for records in Korvettes!
Spot on 🎉and I am 63 and also retired from the music industry.…. It’s the same old song at dance. The record industry kills the golden golden goose again.😢
Yep, now you pay $60 for a doulbe LP with no inserts, posters, nothing extra. Then of course you have to choose what color variant you want also.
I have cut back on vinyl, for me I get more CDs than ever. And with my aging ears, they sound pretty damn good.
Thanks for the video Mike.
CDs are not proper hi-fi, you get what you pay for!
@@analoguecity3454don’t underestimate CDs. They carry few benefits that vinyl doesn’t deal well with. I personally appreciate the best in each of the mediums. Btw high resolution discs like SACDs and Blu ray Audios are formidable.
Excellent video. My pet peeve: the era of multiple variants of a release needs to end.
I think we should just issue dark side infinitely. We don’t need anything else evidently
@@awrogers3013I agree. Let’s be done with that lol
Thanks Mike, interesting perspective on the industry. Agree with many others that prices cut down on my purchases.
I totally agree. I work at a shop in Michigan and we’re experiencing the same. I think pricing is a huge part of it. I’m seeing lots of people coming in to sell records they bought, and no longer need, while they were flush with federal stimulus check money. Times change.
Mike you hit the nail on the head record collecting is a physical pleasure because it’s music history that gets passed down from one listener to another. It’s like reading a book turning the pages where on a kindle it’s just reading lol
Thanks, Mike. Appreciate the insight.
My record buying is down because I'm getting tired of getting defective records and then having to go through the trouble of returning it.
I did a lot of shopping for used records in 2021-22, to the point where I have pretty much everything I wanted. I still buy new records, but I struggle to find anything I want from the RSD releases. I use that online store for new classical releases because local record stores shy away from that genre
The dollar's purchasing power is down 40% vs Gold and Silver year to date. Credit Card debt is way up and the consumer is being squeezed harder and harder as food prices are way up. Rent is up and people in general have less cash to spend. Look at how bad restaurants are doing nationally. Wages are down in real terms. The government interest on the debt has justt hit $1 trillion per year. I hate to be the bearer of bad news, but the economy is breaking and something is going to give.
That’s why I still have a cd player and a streamer. The prices for vinyl is ridiculous so I’ve stopped buying.
K
CDs stink, why deal with archaic CDs when you can stream 3 times the sound quality on "Quobuz" and "tidal"! Redbook is not good enough! CDs were rushed out on the market, and 44.1k 16 bit was never good enough for proper hi-fi!
@@analoguecity3454perhaps you should listen to a good CDT and DAC within a decent setup and you will be surprised how good red-book can sound
@@analoguecity3454 well for me cd quality is good enough with a good transport and dac and yes I’ve got qubuz which I use a lot and using my tt less often.
Mike appreciate your efforts and honesty and talking about the quiet stuff no one wants to say out loud
It would be logical that units sold could be down given the price rises.
Good perspective Mike. I'm buying as much as ever. Probably bought 60 records this year alone. Thanks.
Greetings Mike. Great vid (as usual) You always speak honestly and from the heart - much appreciated. I am a 'baby boomer' 1950. I was lucky enough to be a teenager and a young adult in (what I consider) the greatest music and hifi equipment era ever (stereo wars) . I was heavy into both buying and upgrading hifi gear and buying LP records. When co-workers would question my lust for buying LP records most every week, I would state "I am spending less or maybe equal to the average smoker spending on cigarettes" (in Canada eh where taxes were higher on cigarettes and alcohol - paying into our universal health care) The same analogy regarding daily drinkers in that era. I still have and enjoy my LP records (trimmed down over the years and caught up in the CD era of the day) but....and a big but, I still have and enjoy my LP records and the smokers and heavier than average drinkers have, on average probably have felt the daily effects of poorer health outcomes over time. Keep on keeping on!
Inflation and the cost of living have cut into everyone's income. I've also become more selective.
Sales are down for sure, lot of sales/clearance going on for new stuff. People are
dumping used too, EBay auctions are getting lower prices, lot of minty Blue Notes going for way less than they would’ve a year ago. A number of my friends that have collected for 30 years have called it quits. Stuff is sitting at record shows too.
I checked my vinyl purchase history from 10 years ago on Amazon. Some MoFi Dylan releases were 30 Canadian dollars. Today, almost every new release is between $50 or $60 or more. My salary did not double in last 10 years. The new The Cure preorder is $60 Canadian for standard black vinyl. I cut down on vinyl purchases significantly.
It's perfectly viable to sell a record for $20 profitably, I've bought dozens for around that price direct from artists in recent years.
The problem is (whether it's the artists or labels) so few new releases are a single piece of black vinyl - it has to be a 2 disc set or (at least) three variants, some of which are needlessly limited and on and on, it's just gone too far.
Then the reissues, particularly Jazz, silly prices because they know the kind of people who want those records really want them and will forgo buying three rock/pop albums to get one Mingus album for the same price.
And, I noticed that the record companies are also seeing that the Consumer is complaining about prices. Rhino Records have a series called Now Playing, which is a series of Hits collections that are very affordable. Remember back in the day when record companies had certain product like Sony had the Nice Price Series, Warners had Super Savers, Capitol also had a budget series. The record companies need to take another look at all those Discount series that the labels once offered.
Great video
Thank you Michael
Have a wonderful one
As a fellow record store owner going on 9 years I appreciate this video Mike. Thanks 🙏
I thinking pricing is certainly part of it - plus the impact of overall inflation (food, housing, etc.)
Another thing is that a consumer (like myself) who started ramping up during Covid has likely bought too much for now (here I am speaking for myself).
I need to “shop” my own collection and listen to what I already have. I will continue to buy, but likely at half the rate.
1 ) Grocery prices
2) No more free gov't cash
3) No more FOMO
Best comment! Finally, a smart person!
Gas prices, energy monthly bills, even my water bill has skyrocketed, bloody tap water is getting ridiculously expensive, but I live in Commiefornia so I guess I deserve it.
there goes that bubble....
Records Are Too Expensive period! Record companies are pricing themselves out of the market!
The cost of manufacturing vinyl records is very high, profit margin is not that great, even with higher prices. Govt. regulations in blue states cripple companies to the point that they close shop and re-open elsewhere.
Things are down for whatever the reason. Even Vinyl UA-camrs aren't making as much content anymore. It has reached its peak and we are headed downhill at the moment. I've been buying records since 1973, 51 years. The business wont lose us old guys.
Think the original pressings are still in high demand. Reissues are a different market. People still want original pressings of classic or collectible records.
High prices, double albums should not cost double, every artist new release is 2 LPs now. On the used front, record store owners depending on Discogs to make as much money. No hidden gems anymore, even used is over priced. Those are my thoughts from a buyer.
"33 1/3 down".Ring any bells? Someone pulling your chain.
Yea some prices are up but I have been buying music since the 1970’s I was never a fan of when music went streaming I like having the music in my hands. When I started to buy download for a bit in the late 90’s n early 00’s I realize when I change devices I lost some of my music I bought. Yet I still have all my music from 50 years ago, I stick to having the item in my hand a much happy experience. I never bought to collect I buy to listen to my music. I like the state of music now just wish there were more record stores, I drive 40 minutes to my nearest store or buy from the Ingroove.
Actually, vinyl sales are 33.3% down. Vinyl is way too expensive so we stop buying
It isn’t though, they’d changed the metrics that were being recorded, it’s down single figures
@@SpyderTracks 33.3% get it…?
@@leem6376 lols! I’m so damn sorry I missed that!!! Damn, have to self flagellate myself with a leather whip for a few days off the back of that!
Um....NO! That was a "fake" story! There actually up 6%. You need to do research and not run with every story you hear!
@@leem6376yes sirrr, 😉👁️🤘👌
I just sorted and boxed over 2000 VHS and DVD.How in the blazes do I get room for vinyl records? I think everyone got what they wanted, Did I miss RSD? All of this aside, my Goodwill has taken every one of their LPs and 45 for internet sales. I have only B&N to buy decent records locally. What it really boils down to is everyone bought their fancy player, top titles to put on their IKEA/special shelves and ran out of room to add any more.
So this is just me personally. I’ve bought more records this year than ever. And I’ve been collecting since I was 11 and now I’m 42. But I’ve focused on spending my money solely on audiophile records ( Atlantic 75, UHQR, Impex, MoFi) and good clean originals from my local record store and Discogs. What I have backed off on is so many of these new releases from the big labels. If I like a new album enough I will get it . But paying almost the same price as an analog productions reissue, with great mastering and tip on jacket, as a new release with a flimsy jacket, noisy vinyl, and just plain passable music. The market is over saturated with the sub par from digital releases that the big companies are putting no care into to just capitalize on the cash grab. I mean there are some great affordable non audiophile label releases lately , Sheryl Crow, Paula Cole, 10,000 maniacs. It can be done, if they would do it. Not 40 dollars on a noisy eco vinyl Billie Elish album. But I also know the industry cannot just survive on reissues alone. This of course is coming from a buyer and not a store owner. Just my opinion.
The vinyl mania peak ended with the release of the Adele triple vinyl in 2022 and all the lofty expectations of huge sales only to gather dust at at the stores and a likely dollar binner in the future.
Adele records are pulled up in my Walmart at the same price as they were upon release. I agree.
No one seems to understand inflation. We all were so used to new albums being $15, yet not every artist pressed vinyl. So let me break down the cost. If you were old enough in the last 80s early 90s you may remember what our wages were and may remember the cost of a record, cassette, or CD then. In 1990 i had my first job . The pay was $3.80 an hour. An album ranged in price from 8.99 to 13.99 depending on the artist and the store it was purchased at.
CDs were still between 14.99 and 18.99 but there was certain oldies you could get for 9.99 to 11.99 and cassettes were huge so they were the cheapest, but also cheap in quality. They ranged from 5.99 to 9.99. So based on my wage i had to work a few hours to afford any of these physical products. Fast forward 34 years later. I now have many bills to pay and my hourly pay lets me buy quite a few things monthly. I have no children so no expense there. Now starting wages in most states are between 12.00 to 15.00. $14.65 in mine. So a teenager getting their first job still hs to work 2 to 4 hours same as i did back in the day to afford an album. Prices arent anymore expensive, we as adults just dont have as much free flowing cash as our teen years. Does anyone understand this? Seems as if many dont!
Thanks for the vid, Mike!
I’m sure standard records are down but audiophile records are up I’m sure
CPI Inflation: $7.99 in Jan 1980 = $32.38 in Sep 2024. Many of us were just spoiled for 10 plus years digging up used treasures for under $5 or $10. Crate digging was the most fun for this cowboy!
I post this kinda math , yet no one understands. Thank you
we had the WORST resessson in 1980. My folks were paying 18% interest on real estate loans, it was out of control.
oral s5x is also down 69 %.
Similar thing happening in the sneaker community as well
We love you Mike
Ohh! What a Surprise!
Here in Canada 50CAD$ + tax For New Old Reissued?
Mike you made a very good point about vinyl records buy to to enjoy them not because there going to up in price, Or FOMO ,
I’m noticing that prices are starting to retrace a bit on used records, which is a trend I hope continues. There are a lot more copies floating around again from people who’ve come and gone and sold their collections.
The reason is low 33%, because is the insane price they asking for it ! People still love music but is looking for cheap way to appreciate it. Like streaming music services
I the 90s, I bought vinyl like crazy everywhere I could. The typical price was $1 or Less !
As much as a bought back then, I still wish I could go back in time and buy more.
None of these vinyl sales “insiders” ever take into consideration the amount of used vinyl is sold. They never indicate that it’s only new vinyl that they are talking about. Used vinyl sales gotta be through the roof…as are the margins on it.
I've had to cut back on ordering due to economy/inflation and employment uncertainty. Had to cut bk on items that aren't a necessity for the time being.
"it's the economy stupid" - James Carville
Mike topical topic...you beat me to it. I don't have a store but same stuff going on via EBAY. KEEP ROCKN
Used to buy multiple records a month. Now I do about one a month. Regardless.. they are being priced way too high.
Bought more this year than ever, what’s awesome is the choices available now of brilliant audiophile recordings. What pisses me off, is the QC, I had 34 records delivered from my go to U.K. guy last week, 5 warped, 2 of those also full op pops and clicks and 2 others duff.
I bought a cheap flattener from a small US company, has been in constant use this week, 4 hours per record but worked pretty good.
Always good... Thx Mike
The stat was literally said to not be true and that they actually went up 6%
This is all good news I believe. The quality of the pressings of new releases have gone up recently. And now there's a new great pressing plant in Denver that Dave Rawlings co-owns! Just got my first from them! The new Gillian Welch/Dave Ralwings album. Well done!
My buying is down compared to the last three years by choice. I am no longer chasing down grails, at least for now. I spent waaaaay too much money between July 2020 and the end of December 2023. Most of the audiophile records I bought above retail because they were gaining value, are essentially worth less than what I paid for them now, because 75% of it is back in print. Now, I bought one copy, for me, to keep, no duplicates. I wasn’t buying to flip, and I did expect a lot of the records I bought to come back down, I just thought it would’ve been years. This is a good thing for record buyers.
The cost of going to live gigs is crazy £80+. And the cost of EVERYTHING is nuts, eating out is insane. Vinyl will always have an emotional connection, just wish they were a little cheaper!
I've spent more on vinyl in 2024 than I did in 2022 and 2023 combined. I've heard those stats aren't correct because they've changed how they collect the data. If you go by how they did it in 2023 it supposedly up 6% in 2024
My COVID vinyl mistake: Craft's "small batch" Relaxin' with Miles. It's still available!
If I drink and vinyl, I wait till the next day to put them back on the shelf. I'm still looking for a Lana Del Ray record I put back over a month ago!
Cost of living skyrocketed and it reduced disposable income. Good quality LPs are $60 and up. People got bills to pay.
I sold off my vinyl collection this year (made a pretty penny!) and stopped buying. i'm not paying 30-50 bucks for an LP when i can find a lossless digital version online or old CD with superior mastering to rip and save. Pressing issues and prices turned me off of the hobby. I still loive and watch your videos so i know what new releases to grab.
Prices have gotten crazy. 40 bucks for EPs now. I’m out!!!
Always cool to hear your thoughts on these matter, many thanks Mike ✌️🤘 i wish more people would just enjoy the music and quit worrying about $hit like this, but whatta ya gonna do?..😂
Prices have snowballed meaning I buy fewer pieces, physical quality is declining rapidly but honestly, there has been so very little released this year that I wanted to buy.
Is expensive and that's it ,this video could be 5 min to be honest, even the used ones and in poor state wich is very hard on vinyl i used to buy used vinyl for 5 dollars and now they want 17 dollars the ones 25 plus audiophile 60 plus is crazy keep at it and digital is going to eat the cake again
Prices are out of control. It’s made it prohibitive
It’s possible that indeed sales of new records are down due to a decreased demand for McCartney III on a new color vinyl, or people are sick of picture discs instead of the actual album, or the increased prices, or the flood of Taylor swift and obscure crap nobody knows, or the same Elton John LPs you can find for the $5 bin which even there they don’t sell. Also on record store day it seems like they release backlogged crap that has no value or yet another live album that wasn’t good to release back then and is now being peddled as it did now. Also, it may just be that people would rather buy used records , or may be experiencing fatigue; they bought all these albums but haven’t had time to play them, or the sound quality is crap. Or they are going through financial hardships - you can’t eat a record. Or they may also be buying used CDs. Or they may already bought all the albums they wanted to complete their collections. And I’m sure there’ll be many other reasons why people are not buying new records as much as they’re did in past years. Even I have a hard time finding a suitable quiet time to play the new stuff I brought home from a record fair.
I own a record store too and still sales are going up.. we don’t sell second hand, only new. Cd’s are stable, not going down, maybe a bit up. Haha.. 2020 was hard, also because we also moved with our store and then we could open on steady hours again . Booming, and yes, there was shortage of releases at that time.. that’s all solved now. I had never people who bought 2 of the same item, maybe flippers don’t live here 🤪. I think it’s a typical USA “problem” .
Records are so expensive. They should be like $17.99 max. Who can afford $50+ records? Kinda ridiculous, if I’m being honest.
Inflation. Less disposable income. Millenials are trying to buy a house
I would have thought that unit sales would be the way to determine sales. Reporting the dollar figurea may be up, due to the inflated prices by the labels.
I remember when the p hit and folks were saying “This is going to burst the vinyl bubble!! Prices are going to bottom out!!!” I was like “uh no. It just wont sustain like it is now and most likely there will be a new “normal” for prices” And here we are. Now many of the same folks that panicked during the P are saying “See sales are failing!!” Yet, sales are a marginally better than they ever have been.
As with most exaggerations and emotional driven conclusions, the truth lies somewhere in the middle.
Vinyl will be fine. Its has been a niche market for decades. One two year exception of crazy sales or a drop from those crazy sales is not the demise of the vinyl hobby.
Paying $30 to $35 or more for a new album on vinyl is excessive. Music labels tried cashing in on the resurgence of nostalgia for the analog format. I care about audio quality but I'm going to pass on the high cost of records when I can buy WAVs, FLACs, or CDs for 1/3 of the cost of vinyl.
My acquisition of vinyls this year is down by 100%. More concerned on spending 300k on a new storage/hi-fi room.
I'm sympathetic toward your cause. Hope things go well and according toward your budget. I started my new storage / hi-fi room with a 325k budget, but ended up spending 649k. I wanted the best for my Walmart Crosley turntable :)
Screw bitcoin, when you can’t afford groceries and gas, and housing costs going up, well, guess what happens to extraneous purchases? They’re no longer an option, and when you combine that with the free cost of streaming music as a music fan, you are left with one option, all while watching UA-cam videos on the state of vinyl records just to keep engaged with what you love but can’t get, kind of like the hot girl who’s beyond your means, but maybe one day…. All of you who can still afford vinyls, you are doing much better than most.
Nice new look on top, Mike.
You look younger. I wish I could do it, but my skull is lumpy and asymmetric. I'd just be a freak.
It’s not rocket science, prices are becoming stupid and the frequency of represses is ridiculous
I already have most everything I want, so for me to purchase, it has to be something special and interesting - case in point - that latest Jacob Wendt release was a nice addition - also Hugh Masekela Hope - it better be great music front to back and sound amazing otherwise I pass
Supply and demand. Prices will stay high of people keep consuming. That goes for everything. If we buy less prices will go down.
Actually, I think the price for vinyl records is pretty much right where it should be. In the 80s, records were around $9-$10 so if they're now around $20-25, I think that's fair. Yes, the prices are high but only compared to what younger people are used to today, which is little to nothing.
Artists need to be paid.
They're 30 to 45
@@crazyprayingmantis5596 some are that high, some aren't. If you don't want to spend the money, then keep streaming.
@@crazyprayingmantis5596yes sine are but lots of new artist albums are around $25.
I Have 2 Tubes of Toothpaste Saved for Later.
I've barely bought any vinyl this year, only CD's. Vinyl prices are way too high right now.
Music Lover 1st and foremost, "collector second!". 1. Too many reissues 2. Like the original Lp to CD shift back in the day, the music quality and substance is lacking, production quality is worsening, and I feel like things are on vinyl for the sake of being on vinyl. 4. Streaming is very enjoyable and I can chill for hours without getting out of the listening chair to flip the Lp.
Shits too expensive.
Example; Atlantic anniversary series. $60.00 for a Bad Company, Yes, CSN etc etc?! I love these bands but they're common records that sound fine originally and can be found easily. The new BlueNote box, 1 Lee Morgan record and a bunch of filler, $225.00!! Prices are crazy imo.
Those are premium editions. Many new artists and albums in the $20-30 range being released every week. I just visited 8 record stores in Los Angeles with lots of used records under $10 or 15. Of course rare collectibles are higher.
Why? Bad quality control especially for rock reissues and using same digital mastering as the CD. What’s the point?
And, The whole limited edition thing is starting to turn a lot of buyers off. We use to get the FOMO (Fear of Missing Out) Feeling, but after a while, that wears on you to the point where you say if I get one fine. If not, it's also fine! We run out early in the morning on RSD, only to see those items reissued at a later date. I challenge anyone to argue my point!
I think 80's and 90's vinyl albums are up. Why? Because the young people who are into vinyl, like that music. Depeche Mode, Duran Duran, Alphaville, New Order, The Cure etc are popular among the young generation.
But a lot of records that was bought in the 70's like prog rock, psyche, Frank Zappa, fusion rock etc are down. Led Zeppelin, Black Sabbath and Kraftwerk are still very popular though. This is what I have experienced when I sell records from my own collection.
But it is definitely harder to sell vinyl these days and if you are downsizing your collection like I am, maybe it is time start selling now!
First off, its not only vinyl thats high priced! Look in the grocery stores! Last but not least, after further "proper" research, sales are up six percent, they expect by Christmas it will be eleven! People run with the first thing they hear, thats why we in the shape were in!😮
Dabbled in vinyls since the 80s, then in 2020, working from home got a new high end turntable since I spent so much time at home. Had the means - bought audiophile MoFi etc on secondary market for too much - sometimes lucked out and got them directly from MoFi, or from you Mike. But the whole disingenuous and smug response from MoFi made me as a consumer never buy from them again, and the flippers and repressing of OOPs was salt in the wound.
Now my collection is most of what I want, going back in the office 4 days a week, so streaming more again. That’s my story.
Will always buy from the in groove and love the all tube pressings.
Oh and in 2023 I was laid off… that kind of curbed my vinyl buying… just a smidge
Spotify.........Done!
Every market needs a bag holders to buy the top. It's just how it works. Vinyl is no exception.