Music is an integral part of global culture. American poet Henry Wadsworth Longfellow, quoted music to be “universal language of mankind.”
True enough, music is being celebrated and preserved in countless ways. When the first vinyl record came into production in the early 1900’s, music took a giant leap forward.
In October 1925, the front page of The New York Times extolled the astounding sound quality that a vinyl record possess. Parts of the headline described vinyl records as “soul of music reproduced” and “a feat of mathematics and physics.”
Vinyl records have remained in demand and culturally relevant since the early 1900’s, and like any standard antique, the value of well-preserved records increase as years go by. The older and rarer the record is, the more money it is worth. A good example of this is the 1958 original pressing of “That’ll Be The Day/In Spite Of All The Danger” by The Quarrymen, a band that would later evolve as The Beatles. Since it is the only copy that featured John Lennon, Paul McCartney and George Harrison with their pre-Beatles band mates, drummer Colin Hanton and pianist Duff Lowe, its rarity is incomparable. The said record is estimated at £100,000 or $154,000.
Aside from producing the best audio quality, old vinyl records hold precious and most often, colorful history in them. Some records are valuable because they’ve been produced in limited copies, while some are expensive because of a particular event that went with that record.
“There is a genuine love for vinyl, or rather what vinyl represents; music that has quality and aims high artistically. Music for people who care about music,” Tom Fisher, founder of Rats Records, was quoted as saying by Channel 4 News.
When the compact disc was introduced in 1983, the popularity of the vinyl record decreased and there was a halt in producing records. Even contemporary acts are having sales success in vinyl format, thanks to movements such as Megaphone’s Record Store day that helped expand the demographic of vinyl collectors.
According to the International Federation of the Phonographic Industry, over $171 million dollars were spent all over the world in purchasing vinyl records, the highest selling point since 1997.
“Core fans in certain genres seem willing to pay up to double the price to buy vinyl records than CD or digital albums,” said Chris Cooke, founder of Complete Music Update (CMU).
As vinyl records continue to achieve market success, other forms of music services—inspired by the fact that people are willing to pay more for quality music—began to draw the attention of industry bigwigs. Rap mogul Jay-Z, for instance, invested $59 million to acquire Scandinavian music streaming company who controls a service called Tidal. Tidal set itself apart from similar services such as Spotify or Amazon Music, with its huge archive of files in high fidelity, loose format, allowing the quality of vinyl records to be reproduced and streamed digitally using a mobile phone.
In order to be innovative, emerging streaming services have come up with different ways to engage different kinds of audiences. Audioboom (AIM: BOOM) offers a more exclusive service that caters to a wider and more penetrable target market. The service offers spoken word or audio versions of music, sports, news updates, games, comedy specials, podcasts, and radio stations from around the world—all at your fingertips.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
MATIC Share Price Forecast: What Does Polygon Expect in the Current Bear Market?
Cryptocurrencies such as Bitcoin and Polygon have a close correlation with stocks. In most cases, they rise when leading indexes...
Coima sgr’s Porta Nuova Centrale Fund Secures €173.5 Million Green Financing
Coima sgr, founded and led by CEO Manfredi Catella, ended 2021 with assets under management up 6 percent to $9.74...
Canopy Growth Sales Disappoint, Stock Under Pressure
Just a week before announcing its latest numbers, Canopy announced its latest acquisition: the purchase of California-based cannabis extraction and...
Solidarity Day 2022: Ganzourgou Producers Offer 2.6 Tons of Food to Vulnerable People
Regarding the selection criteria of vulnerable people, Ambroise Ouédraogo said that his association collaborates with the provincial directorate of Social...
Ford Chooses Almussafes over Germany for the Production of Electric Models
Thus, the Valencian factory will be the fifth Spanish factory to produce all-electric models. Stellantis manufactures electric models at its...
Biotech1 week ago
Satellos Bioscience’s Stem Cell Signaling Research Could Turn the Tables on Muscular Dystrophies
Crypto2 weeks ago
Solana Price Forecast: SOL Forms a Dead Cat Bounce
Crowdfunding2 weeks ago
Exporo Raises Funds, but the Company Value Decreases Instead of Increasing
Cannabis2 weeks ago
Luis Figo Launches His Brand of CBD Products