About Vinyl Records Market
Manufacturers are now focusing on technological advancements to maintain the strong growth. Manufacturers are adding capacity to their existing lines. From the innovation point of view, HD vinyl record format will hit the market soon. There is differential pricing across regions. Vinyl record releases in the US is sold at a lesser rate compared to that in European and Asian countries. Also, due to low availability of stock, consumers in Japan have to import vinyls to update themselves with the latest releases.
Technavio’s analysts forecast the global vinyl records market to grow at a CAGR of 55.15% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global vinyl records market for 2016-2020. To calculate the market size, the report considers the revenue generated from the total global retail sales of albums or music collections sold on vinyl records through retail outlets or online channel.
The market is divided into the following segments based on product:
Technavio Announces the Publication of its Research Report – Global Vinyl Records Market 2016-2020
Technavio recognizes the following companies as the key players in the global vinyl records market: GZ Media, MPO International, Optimal Media, Record Industry, and United Record Pressing.
Other Prominent Vendors in the market are: Pallas, Rainbo Records, Quality Record Pressings, R.A.N.D. Muzic Record Manufacturing, Prime Disc, Independent Record Pressing, and StereoDisk.
Commenting on the report, an analyst from Technavio’s team said: “Promoting vinyl record as special editions/deluxe product will be a key trend for market growth. Various players are trying to differentiate their product offerings launching special and deluxe editions of their copy. The manufacturers are now coming up with tailor made art to colored versions and patterned vinyl record to induce different customer segments. Manufacturers also receive customization orders for variations. Limited editions are now more in demand for customers as people see vinyl record as a luxury niche and maintain it as a collection.”
According to the report, aesthetic appeal of vinyl records will be a key driver for market growth. Listening to music as an activity has given high importance to the digital form of music, and to the sales of digital music players. Over the years, the medium of music has changed in form and content. However, for an audiophile or a music lover, vinyl records are still considered to be an auratic product. Vinyl records still stand as one of the fastest selling and growing mediums of music, despite the acceptance of digital media.
Further, the report states that low investments will be a challenge for the market. With the high demand, the old and obsolete machines are being restored; however, manufacturers are encountering several problems. Problems such as the gas feed, which do not have enough power to provide the presses with enough output or the cooling problems, leads to delays that put surplus pressure on the supply side. In contrast to a CD format, where the majority of the section is produced in an automated way, vinyl record manufacturing chain is more of a cumbersome process and majority of the work is manually operated. Due to lack of investments, the production facilities cannot deliver in a timely manner and hence today’s labels and musicians have to wait up to four months to produce a vinyl record.
GZ Media, MPO International, Optimal Media, Record Industry, United Record Pressing, Pallas, Rainbo Records, Quality Record Pressings, R.A.N.D. Muzic Record Manufacturing, Prime Disc, Independent Record Pressing, StereoDisk.
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