All the growth in music sales right now is about digital, right? And ringtones, new business models and the rest, OK? No. Not right. See, there’s a quietly bubbling third strand to industry growth, and it’s found in the increasing popularity of vinyl.
“There’s a huge resurgence in vinyl,” Mike Dreese, CEO of the Newbury Comics chain said. “We sold 600 to 800 in the last two months.” Dreese added that the company expects this year to yield vinyl sales of $1.5 million, up 70% from last year. In June, Newbury the company admitted monthly vinyl revenues of approximately $100,000.