Record Store Day - It's a Niche

In January BBC News added to the hours spent predicting the death of physical sales and bemoaning the rise of streaming. We have also had the collapse and revival of HMV, and seen that also blamed on streaming. As it's Record Store Day again, and once again it's all vinyl, vinyl, vinyl. Time to look at some stats showing the current state of music sales and see how they measure up to the hype.

The headlines always focus on the decline in physical numbers of CD sales and the percentage growth of vinyl sales. In 2018 there were 4.2 million vinyl records sold new, about £60 million worth ^. CD sales were 32 million, while this was a decline in quantity, value held fairly steady at £450 million*.  Downloading took the biggest hit declining to £35 million worth, bearing mind that a lot of these"unit sales" are single songs rather than albums. Streaming music sales pulled in £829 million '. So overall music sales are worth around £1.5 billion. This is a decline of about 41% by value since the peak in 2000.

Some facts:

• The overall music business is worth about 4.5 billion, with live music, merchandising, exports, and publishing included. Allowing for inflation this is about the same as in 2000. So live music and the rest has grown significantly since then
• The death of HMV blamed on streaming was in fact about DVD sales collapse, which fell by 45% in 2018~. 
• The real vinyl revival is in second hand discs, which don't show up in sales figures. Talking to several record shop owners recently suggests that their sales are booming. But then so are their cd sales.
• Ebay, Discogs & Amazon Marketplace UK used cd sales amounted to nearly £500 million in 2018 ".

The biggest selling albums in the UK in 2018 accordnig to the Official Charts Company by physical & digital sales were:

What does all this tell us?

• Old folks buy cds, (vinyl in this context is next to non existent), young people buy digital, and Christmas (Now 101) makes a big difference. 
• Physical sales are more healthy than it seems on first inspection
• Physical media of all sorts are becoming a niche or hobbyist market. Knitting is worth about £400 million interestingly...
• HMV with £250 million of sales is critical to the survival of the market, Independent shops prop up the hobby end of the market but don't compete on volume sales
• The supermarkets (particularly Tesco & Sainsburys) largely exiting the cheap cd market has hit sales but not damaged value much. 
• The markets for streaming and physical media are almost totally mutually exclusive.
• Those in their 20s or younger consume music as they do video or games, it isn't "special" to them in the way it is to older demographics

So don't believe the vinyl hype CDs, downloads, and streaming all have their place. The big problem comes in a decade or so when us old people have all stopped buying physical media and the age of music as a mass market medium ends. 

^ Source  - The Vinyl Factory 4.1.19
* Source  - UK Investor magazine 3.1.19
' Source  - Music Business worldwide 3.1.19
~ Source - Variety 9.2.19
" Source - Den Of Geek 12.3.19

Real Record Shops...

It started with reading "Going For A Song: A Chronicle of the UK Record Shop" by Garth Cartwright. Yet another purchase prompted by listening to the Word In Your Ear podcast. This started me thinking about Bristol's record shops and Richard King's book Original Rockers about Revolver Records, the coolest record shop in a city stuffed with cool record shops.

I've just written a long paragraph about local bands & the live music scene, but have put that to one side for a separate article so I can stick to the point...

Which was record shops. The British Record Shop Archive lists lots, some I remember, some I don't. Living in the wilds of Hanham off to the east of Bristol, record buying was mostly about a record shop in Kingswod High Street, which I can't remember the name of, or trips to HMV in Broadmead to spend my paper round pay on whatever John Peel had played that week. My best ever record buying experience was when a boutique (clothes shop) on Hanham High Street which had tried to sell records as well for a few years gave up and sold boxes of singles for 10p and LPs for £1.50. I bought dozens, lots of punk and post punk including some that are real rarities now... I also discovered Plastic Wax Records happily still going and the world of second hand records. I can still remember buying an import Stranglers E.P. because I hadn't heard of it and literally running to buy The Ramones Rockaway Beach after it was on Radio 1.

Record shops are on the up with the "vinyl boom", and that's a good thing, even though I suspect that a good number of the discs bought are for display rather than playing. The new shops that pop up (and down again) are nothing like a "real" record buying experience though. Have you read High Fidelity? The book describes a real record shop, and that is what I loved, and indeed still do. Grubby, probably fairly disorganised, and don't bother talking to the staff who will either ignore or ridicule you. Nick Hornby and Giles Smith both had that right. The aforementioned Revolver Records was the archetype in Bristol, I went in once, and was too intimidated to go back for ages. But when I realised it was the only place to get some of the stuff I wanted I was hooked. Rival Records in Park Street with it's racks of cheap discs to flick through. Music Market in Bath a shop so small 3 people had to leave if you took a record off the rack. There was Record Fayre above a camping equipment shop which sold imports at £1.99 that were so rubbish half of them didn't have grooves deep enough for a stylus to find. 

All this may sound like I'm a vinyl fan. I'm not, it was rubbish. I don't doubt that the new 180gram collectors discs are better, but seeing people in their twenties rooting through boxes of vinyl in a charity shop recently getting all misty eyed about them reminded me of using Mark's sister's Nolans singles for airgun targets. The vinyl was useless and the music was crap. When I worked for my Dad selling 78rpm records and gramophones in the eighties the question of collectability came up all the time. How to make a Bing Crosby record collectable? Throw it away. White Christmas sold 100 million copies on 78 alone so to make it rare we'd have to fill up a lot of landfill. Same applies to vinyl,. In 1977 there were 15 million LP's & singles sold in the U.K, so questions about rarity and value are to say the least spurious. 

Does the real record shop still exist. Yes it does and here are my recommendations. 

Plastic Wax: Cheltenham Road Bristol BS6 5QU - Lots of vinyl and cds. the hours I have spent scanning the shelves since I was 14 are beyond counting. Always something new, always a bargain.

Missing Records: 247 Argyle St, Glasgow G2 8DL - Under the railway bridge hidden away. A recent discovery and one I'm still digging into. Another small shop, and there is always a Glasgow "character" on hand to liven things up. 

Musical Box: 457 W Derby Rd, Liverpool L6 4BL - Friendly owners, I made his day when I asked for Jazz cds, went out with armfuls. 

Record Collector: 233 Fulwood Rd, Sheffield S10 3BA - Closed Wednesdays as I found out. Separate cd & vinyl shops so I don't have to walk past any of that nasty black plastic. second best record shop in the world. Totally impossible to find anything, just browse and have fun.

My tip for collecting by the way is buy cds. They will come back. The special editions and longer playing times will attract people. When downloads start to die away over the next few years, and they will, cds with their currently low prices and superior digital reproduction will be the new vinyl.