Lakeshore Record Exchange on Park Ave. to close next month: In a Facebook post, the president of Lakeshore Record Exchange says the store will close next month. In the post, Andrew Chinnici writes “We’ve had the great fortune of having a supportive customer base which made it possible for us to focus on the niche genre of Alternative Music for so many years. The dedication to this genre meant we focused on stocking records and CDs from Europe and America that were difficult to find in other stores. Time and technology have changed the accessibility of these types of records and CDs.” Because of that and changes to the way people listen to music, Chinnici says the store will close near the end of August.
Dover’s Spun Records to close next month: After six years and three locations, Spun Records of Dover will close its doors. Mark Matarozzo, owner of the Grove Street shop, said he plans to close early next month, though a date is not yet certain. Matarozzo announced the news on Facebook last Thursday, and while this year has been slower in record sales, a closing sale helped spur activity. “I did more in the last three days than I have in a month,” he said on Monday.
Streaming’s Share of UK Music Business Still Rising, Streams boost combined album sales by 11.6% in H1 2017: Sales of physical formats were mixed compared with 2016’s first half. CD album sales fell 6.4%. But sales of vinyl albums rose 32.2%, and sales of vinyl singles jumped 60.2%—albeit from relatively low levels—due largely to reissues of classic records and limited-edition releases by new artists, according to the Official Charts Company. The UK’s figures are roughly in line with the US, where physical and digital album sales (excluding streaming) fell 18.3% in 2017’s first half, according to a Nielsen. But boosted by a 36.4% increase in streams, overall album sales increased 8.1% for the period.
Discog’s Crate Diggers announce new international record fairs: Crate Diggers are hosting six free record fair days around the world, including their first events in London, Tokyo and Amsterdam. Launched in 2014 by Discogs and Grimy Edits, the Crate Diggers events feature a record fair by day with local DJs providing the tunes, followed by an after party by night. Both new and used vinyl is on-sale. With past instalments including sets from Theo Parrish, Marcellus Pittman, Doc Martin, Danny Krivit and Dam Funk, the inaugural London, Amsterdam and Tokyo editions are sure to host some formidable selectors.
Bega’s vinyl countdown as ABC South East sells off its record collection: On rare occasions, there are stories we just don’t want to share with readers – this is one of them! On Friday, ABC South East Bega is selling off its entire vinyl collection – for $2 a record. All money raised is going to the carers accommodation project at South East Regional Hospital. And with an estimated 1000 or so LPs and a shelf full of 7-inch records there’s a handy contribution sure to be heading the way of CCASE. The collection is gathering dust, and a little water damage – and seems a little heavy on Kate Ceberano and Slim Dusty. But if you go digging there is some real gold in there said breakfast presenter Simon Lauder.
Vinyl records strike chord with young: Pressured by the growth of online streaming services, vinyl record retailers see the revival of the retro product as a business opportunity. Lawson HMV Entertainment, Inc. has launched three vinyl record specialty stores in Tokyo since 2014. Sales of the records have grown roughly 30 percent each year. The Tower Records’ Shibuya store has expanded floor space for vinyl records every year. Sales of record players have also grown. Panasonic Corp. launched its “Technics” audio brand in May with orders currently outpacing production capacity. According to a major home appliance retailer, products priced about ¥50,000 sell well.
Who’s buying all the vinyl? Millennials lead the way: The music industry itself has not prospered with the advent of streaming digital music. Artists no longer routinely sell tens of millions of albums and go multi-platinum. Touring, licensing songs for TV and radio commercials, and merchandising—everything from rock t-shirts and other rock apparel to a range of music memorabilia—make up for some of the losses now that album sales have fallen off but the resurgence of vinyl LP sales offers hope for regaining some of their lost revenue. Album sales in the U.S. have now topped $3 billion. 26% of American sales now come from vinyl, not CDs, downloading, or streaming.
