#making the writing/recording - album release - touring cycle that much longer and in effect less profitable

[dreamings-free]

Music Business Worldwide | April 25, 2023

[excerpt]

[..] Perhaps the most discussed driver behind vinyl’s rise in music biz circles, though, is the so-called “superfan”.

In a 2020 interview with The Times of London, Rob Crutchley of the UK music trade industry group BPI [167 articles]">BPI said “superfans” were powering a “buy-to-own rather than buy-to-listen” trend.

“A proportion of people are buying vinyl because they’re a superfan, so even if they don’t actually have a turntable they’re still keen to support the artist and have the artifact itself,” he said.

“Sometimes it can be because they’re catalog titles that are being re-pressed in a new edition — maybe a run on a different colored vinyl — other times it might be a new title that has a limited press on a certain format.

”In its 2023 report, Luminate defines superfans as “music listeners who spend above average (median) time AND money on music, actively discover new music, participate in music-related activities on social media, and plan on attending a live music event in the next 12 months.

”Three core behaviors set these ‘superfans’ apart from others, Luminate found:

First, they engage in social signaling (i.e., they want people around them to know about their passion for a particular genre or artist);

Secondly, they view music as an expression of their identity;

Thirdly, they engage in a community centered around music.

All of which suggests that the music industry could make serious money off of superfans’ love for vinyl in the coming years – regardless of whether or not they end up playing the format on a turntable.

[read the full article here]