We’re certain that by now, the grim reality of making next to no money from your music has not only raised its head, but has probably eaten your lunch too. But there’s some unexpected good news ahead.
Yes, Spotify pays pennies, and while gigging is still lucrative, the cost of getting any show on the road is now so prohibitively expensive for the majority of artists that they’re selling pictures of their bums instead.
But put that camera down. All is not lost as there’s one aspect of music making that IS proving lucrative and we’ve got the ever-increasing number of Gen Z music fans to thank for it.
Vinyl is – officially – back
You can thank the burgeoning trade in direct-to-fan sales of real, physical merch – with the increasingly popular (if perpetually inexplicable) desire to acquire vinyl-based recordings of their favourite artists leading the charge.
And this is no flash in the pan retro rewind. The figures show that Gen Z is only ever more willing to get on board and, potentially, boost the profits of anyone smart enough to ride the wave.
That’s all according to a new report from Vinyl Alliance, the world’s leading industry collective for vinyl, which reveals how Gen Z is the driving force behind vinyl's uplift and its reinvention as a valid collectible rather than last century’s digitally out-gunned, failing format.
The report features input from over 2,500 ‘vinyl fans’ and is an illuminating insight into the state of play for a music medium that – on paper at least – is very much past its best.
The figures make for some entertaining reading. For example, an increasing number of Gen Z vinyl lovers are now buying records “for an intentional listening experience” rather than previously buying records to keep as “collectible items”. 87 percent are interested in vinyl’s (potential for delivering) high-quality sound.
In fact the report makes a specific point of the fact that, of all of the vinyl owners polled, a new high of 80% of them now actually own a turntable…
And in good news for bands selling direct to fans and vinyl outlets, riding the wave while finding their feet, an incredible 76% of Gen Z vinyl fans are now buying records at least once a month. And that trend seems set to continue with 29% of those polled declaring themselves “die-hard collectors".
(Just as a reminder Gen Z runs from 1997 to the present day, meaning that the oldest possible Gen Z-er circa 2025 is the ripe old age of 28, so – hopefully – there’s an awful lot of vinyl sales to come.)
Unlike Millennials or Gen X, Gen Z were born and raised during vinyl’s mainstream downturn during the mid-2000s which saw vinyl increasingly usurped by CDs before that first digital (but still physical) format was killed off, first by illegal MP3s then by legitimate ones.
But, even this digital format – where music fans still owned their music (albeit as a computer file) – proved to be out of step with digital desire, giving way to today’s all-dominant, all-you-can-eat, monthly fee-based streaming scenario.
Which makes the rise of vinyl – a format first invented in 1948 – all the more surprising.
What spins around comes around
So why is vinyl officially ‘back’? The Vinyl Alliance suggests that “Gen Z has adopted the format, giving a new meaning to vinyl culture. Gen Z is the first ‘digital native’ generation to use social media to further their interest in records, collecting, set-ups and more, and take a mindful approach to their digital use through listening to records.”
The report also shows that exactly half of those asked collect vinyl “as it provides a break from digital life”, more so than both Millennials (49% of those asked) and Gen X (34%).
What’s more, Gen Z say that they are more likely (at 61%) than Millennials (53%) and Gen X (27%) to replace digital habits with vinyl listening to improve their mental well-being.
A surprising 84% of Gen Z vinyl fans say that they shop for records in-store and more than half (57%) prefer an in-store experience and expressed a desire for more vinyl community events - the highest percentages of any generation. The Vinyl Alliance suggests that: “Gen Z values the authentic human connections at record stores, from staff sharing vinyl picks to guiding them on turntables.”
Ryan Mitrovich, General Manager at the Vinyl Alliance, said: “It’s still being said vinyl’s undergoing a “revival”, but after 17 consecutive years of growth [from official BPI figures] it’s time to recognise vinyl has revived and is firmly a part of how fans consume music today. It has Gen Z to thank for this, and what our research shows is just how curious and drawn to vinyl culture this generation is.
“Gen Z vinyl fans are buying records for a multitude of reasons, which shows their interest isn’t a superficial trend, but that they are truly passionate. Vinyl is Gen Z’s ticket to a different music experience and they’re taking it seriously, so it’s time we took Gen Z seriously as vinyl fans and collectors.”
Karen Emanuel, CEO of Key Production Group, the UK’s largest vinyl production broker and Vinyl Alliance member, said: “We’ve long known the importance of younger generations getting into physical music in the UK and this report verifies that. Taking time out to explore records and making financial investments into physical products in order to support their favourite artists is really important to them.”
You can download a preview of the Gen Z report here and for more information on The Vinyl Alliance and their group of allied companies all championing vinyl’s return, head to vinylalliance.org.
