Though vinyl is very much the lifeblood of many smaller artists and labels, big labels can and do receive priority from manufacturers due to their volume buying power.
And this wasn’t just the case in the United States, but worldwide. Though it still only accounted for 5.2% of total revenues by value in the music industry, for independent artists and labels, the percentage was much higher. Vinyl grew 28.7% by value year-over-year to $626 million. In 2020, demand for vinyl records surged according to the Recording Industry Association of America, or RIAA. Music consumers unable to see their favorite artists live and wanting to support them through the pandemic purchased more vinyl record copies than ever, while others got in on the vinyl craze by making initial purchases of turntables and started buying vinyl records as well. But it was a double whammy for vinyl manufacturers since the pandemic also caused a big spike in demand. Just like everything else, COVID-19 caused a squeeze in the already-strained vinyl record manufacturing pipeline due to lack of raw materials, manpower, along with the common shipping/distribution issues.
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A vinyl record was an investment in the music of their favorite artists-a physical plaque of their appreciation and loyalty.īut with the continued disruptions in the free flow of this important musical commodity, independent artists are getting squeezed disproportionately, and in many ways than one.
Where many mainstream fans only cared enough to stream the latest single, independent fans made that extra financial commitment and connection with their favorite artists by purchasing vinyl copies, or sometimes multiple vinyl copies, or copies they may not even play on a regular basis simply to help support the artist, or bundle packages with a vinyl record and a T-shirt. The independent music revolution in both country and in the greater music ecosystem in many was born off the back of vinyl record purchases.