Latest News- Vinyl Records Market: LP/EP vinyl records is expected to lead the Product segment during 2025-2029
The Vinyl Records Market is being driven by Aesthetic appeal of vinyl records
The Vinyl Records Market is expected to grow at a CAGR of 9.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 857.2 million. In the modern music landscape, where digital access to tunes is ubiquitous, there exists a growing trend among younger demographics: investing in vinyl records for their most cherished musical selections. This shift is driven by the unique value and experiential aspects that vinyl records offer. Notable releases in 2024 include Arthur Verocai's Bis on seven vinyl and Banda Black Rios' Super Nova Samba Funk on limited-edition yellow vinyl. Online retailers, such as Rare Ltd, have capitalized on this trend by exclusively selling limited-edition variants of vinyl records.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (LP/EP vinyl records, Single vinyl records) Distribution Channel (Online, Offline) Geography (North America, APAC, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Vinyl Records Market Research Report
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Music collectors and audiophiles continue to prioritize vinyl records as their preferred format for listening to music. Made of polyvinyl chloride (PVC), these phonograph records offer an analog sound quality that contrasts digital recordings. DJs utilize vinyl records for their sets, appreciating the unique record experience. Despite the rise of compact discs (CDs) and streaming music subscriptions, the aesthetic appeal of vinyl records endures. Music labels continue to produce and promote vinyl records, catering to vinyl enthusiasts and music lovers alike. Pop music and various genres are available in physical music formats, providing a distinct listening experience. Turntables and styluses enable the playback of modulated sound data stored on vinyl records, allowing us to enjoy our favorite recordings in a tangible and engaging way.
In the global movies and entertainment industry, vinyl records maintain a significant niche market. This segment caters to music collectors, audiophiles, and disc jockeys (DJs), offering a unique experience through the use of polyvinyl chloride (PVC) media. The vinyl records market is an integral part of the larger movies and entertainment industry, contributing to the combined revenue of companies providing media, entertainment, and interactive media and services. The market's growth is driven by the increasing demand for authentic sound quality and the nostalgic appeal of vinyl records. Companies in this sector focus on providing omnichannel retailing practices, ensuring accessibility to customers through both physical and online channels. The turntable stylus and vinyl records market are expected to grow steadily, with the global market size forecasted to expand in the coming years.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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