Dust Off Your Turntable: LPs Are Back
Sales of vinyl LPs increase 89%, leading to the return of record shops. Artists like U2 and Neil Young also releasing vinyl albums.
Don’t throw away your turntable just yet.
According to Nielsen SoundScan, sales of vinyl LPs reached 1.88 million units last year. That’s more than double from just two years ago and up 89 percent from 2007.
According to this article in the L.A. Times, the sales have led to several trendy new record stores opening in the L.A. area recently. Moreover, some of the albums have price tags as high as $100. The article says the record stores are thriving for collectors and casual audiences. Indeed, artists like U2 and Neil Young have recently released vinyl LPs.
I personally know about this trend, My cousin opened a record store north of L.A. in Ventura, Calif. a few years ago: Grady’s Record & CD Refuge. A lot of his inventory comes from people just giving away the albums. He also does a solid business on eBay.
Of course, LPs need turntables. According to the article, new low-cost units are popping up on the market, including several goo/better/best models at places like Macys. If you’ve really got cash to spend, take a look at this list of the 10 most expensive turntables on the market, including Goldmund’s Reference II unit that sells for $300,000.
BTW, you’d better keep that 8-track also, just in case.
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