Back in the Groove: The surprising renaissance of vinyl records – The Property Chronicle
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Back in the Groove: The surprising renaissance of vinyl records

Investor's Notebook

Music industry reports show that in recent years, sales of vinyl albums have grown dramatically. But when most of us can access digital sounds anytime, anywhere, why are old-fashioned, fragile and expensive-to-buy LP records once again so popular?

2022 marked the 17th consecutive year that US sales of vinyl records increased and in the first part of 2023, the numbers grew again by almost 22%. The picture is almost identical in the UK. Last year, Harry Styles sold more than 480,000 vinyl copies of his Harry’s House album in the USA and Fleetwood Mac shifted over 243,000 of their 70s classic, Rumours. In Britain, Taylor Swift’s Midnights sold 62,000 plastic platters in the first week of its release.  

Data from Billboard, the British Phonographic Industry, the Recording Industry Association of America and Luminate show that although streaming is still the most popular way the world accesses its music (accounting for about 85% of music industry revenues), in 2022, LP records outsold CDs for the first time since 1987 and in the US, over 43 million of them were sold with sales reaching 1.2 billion dollars. In the UK, 5.5 million new albums worth £116 million were bought, the highest number since 1990.

So how can the resurgence of the once outmoded LP be explained? It is surely not just fad or fashion which has trumped the practical disadvantages of vinyl records; many of which hastened the original demise of a product which hadn’t changed much since its introduction in the late 1940s. Records can be easily scratched and warped out of shape and use up valuable physical storage space. The gear you need to play the album is pretty much immovable and cheaper turntables can cause rumble (the amplified sound of the motor), wow and flutter (a result of the tiny speed fluctuations in the spinning disc) and spoil the listening experience. Styluses can be damaged and are expensive to replace, and if there’s dust on the needle – catastrophe!  And it can be hard to drop the pickup arm onto a specific chosen track especially if your turntable doesn’t have a lifting device.






Investor's Notebook

About David Shiers

David Shiers

Graduating with an MA in Creative Writing in 2021, David Shiers was formerly Reader in Sustainable Property and is now an Affiliate of the School of the Built Environment at Oxford Brookes University. He was co-author (with BRE) of the Green Guide to Specification - an environmental profiling system for construction materials and part of the BREEAM and the Code for Sustainable Homes programmes; helping designers and specifiers to reduce the environmental impacts of their buildings. Globally, there are more than 558,200 BREEAM certified developments and almost 2,260,300 buildings registered for assessment. Green Guide has been the recommended materials specification standard for the UK Government, many Local Authorities and private sector organisations such as the Westfield retail group and was used in the building of the London 2012 Olympics. David was a judge on the Construction News panel for the national UK Building Quality Awards between 2010-2013. His research paper, Socially Responsible Property Investment (SRPI), written with Miles Keeping, Dan Rapson and Claire Roberts, was cited as a key text in United Nations Environment Programme (UNEP) Finance Initiative report Building Responsible Property Portfolios.

Articles by David Shiers

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