Apparently a good chunk of America decided to cosplay High Fidelity John Cusack during the quarantine.
During the pandemic, vinyl exploded, growing 28.7 percent in 2020 according to the Record Industry Association of America. While vinyl has been on an upward trajectory since the mid-aughts, 2020 marked the first time vinyl beat out CDs in total revenues since the 1980s. Due to the pandemic, music fans have spent money on turntables instead of concert tickets, some factories couldn’t maintain their production capacity due to social distancing measures and labor shortages, and artists and labels who held off on releasing albums during the pandemic are all releasing LPs this year.
In Billboard, an anonymous music executive speculated that “pressing plants around the globe have the capacity to manufacture 160 million albums a year” but to meet what the market wants, they’d have to make somewhere between 320 to 400 million. “I don’t think we’re at the worst of it yet,” said Whelan. “I think alarm bells are going off but this holiday season is going to be bad and next year will probably be even worse. It’ll keep compounding.”
This news is ironic because yesterday, I sold my turntable and small, tiny record collection. While the electronics sold predictably for half its retail value, the fifty records I brought into the local shop traded for $350 in-store credit. I was astonished but grateful nonetheless. Looking around, the store was jammed with people looking through every nook and cranny of the store.➵