Vinyl record sales have been skyrocketing, recently experiencing an annual growth of 10 per cent, according to the Washington Post. More than 9.2 million records were sold in 2014, according to Time. By 2015, sales had jumped to US$416 million ($570m), the highest level since 1988, Fortune reported.
"That a format nearly a century old generated 3.6 per cent of total global revenues is remarkable," wrote NPR's Andrew Flanagan of the vinyl record's performance in 2016. And "vinyl could account for up to 18 per cent of all physical music revenue this year," CNN Money said, citing a recent report by consulting firm Deloitte.
While the music industry surely enjoyed the profitable surge, it faced an immediate problem. Some, such as Sony, no longer pressed vinyl records. Those that still did couldn't press them quickly enough to keep up with demand.
The biggest issue is that most record presses closed down when it seemed vinyl was a commercial goner. NPR reported that only about 16 operating presses remain in the United States, most of which are overloaded with demand.
The reasons for this rise are, of course, personal to each consumer.
Fortune's Chris Morris wrote, "Vinyl, initially, saw a resurgence as hipsters in their 20s and early 30s sought a way to differentiate their music listening.
"Albums were old-school, filled with hisses and pops that digital music had erased. But those flaws added a depth and warmth to the music that even people who once owned extensive album collections had forgotten after years of listening to digital music."
Whatever the cause, it seems as if the vinyl record's shelf life has proven far longer than once thought.
