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Summary and extracts
1 Market Overview
1.1 Definition and presentation
The term vinyl refers to a medium that serves or store and play sounds. Vinyl, also called a vinyl record, in order to listen to it is used with a turntable, a special instrument connected to an amplifier that can spread the sound. Vinyl records differ in the speed at which they travel, understood as rotations per minute on the turntable. The most common vinyls are 78, 45 and 33 rpm and differ from each other in terms of sound quality, record size and cylinder strength.
As for the global market, this was valued at $179 million in 2019 and is expected to reach $481.5 million in 2026, growing at a CAGR of 15.0% between the year 2021 and 2026. The most thriving market in global terms is the U.S. market where vinyl album revenues account for 62% of total physical media revenues.
The Italian market data do not differ much from the American market. in fact, vinyl is back in fashion as an object symbolic of a certain timeless music culture. Vinyl sales between the year 2016 and 2017, while not surpassing CD sales, increased by 50 percent to generate revenue in 2017 of 13 million euros as reported by Eurispes' Italy 2019 Report. The overtaking with CD for the first time since 1991 occurred in 2020 when vinyl sales grew 121 percent over the previous year while CD suffered a 6 percent loss.
This burgeoning market trend, despite the pandemic period, is mainly due to the e-commerce market where a wide and diverse vinyl offering can be found. In addition, in the recent period a major factor in this growth has been the re-release of historic albums such as Abbey Road, by The Beatles on vinyl.
1.2 The global market
The global vinyl record market has shown remarkable growth in recent years. In ****, the market value reached $*.* billion and is expected to grow to $*.* billion by ****, with an annual growth rate (***) of about*.* percent.
The growth is supported by factors such as increased consumer spending, active promotion by celebrities , the historical ...
1.3 The Italian market
he balance of the first six months of **** for the recorded music market in Italy is undoubtedly positive: in fact, it marks an overall growth of **.*%, with a turnover of more than *** million euros.
it is the streaming segment that dominates the Italian scenario, reaching *** million for an overall growth of ...
1.4 Import-Export
Regarding foreign trade, reference is made to HS code ****: records, tapes, storage devices and other media for sound recording .
Regarding these devices,Italy is mainly an importer. The import-export balance remained fairly stable from **** to ****; in **** there was a higher coverage ratio, benefiting exports. However, in **** the value ofexport decreased by ...
1.5 The impact of Covid-19
Theimpact of the COVID-** pandemic on the vinyl market has shown both challenges and opportunities. During the initial period of the pandemic, there were several problems related to vinyl production and distribution. Some micro-vinyl printing companies were faced with the closure of their premises and the need to relocate equipment and ...
2 Demand analysis
2.1 Demand in Italy
Record production
In order to understand how supply aligns with demand, the following is thetrend in the production of records, mainly vinyls, in Italy from **** to ****.
Contrary to what might have been expected, after a period when vinyls seemed forgotten they have made a comeback thanks to a niche market. In ...
2.2 Demand drivers
The following are the main drivers of the vinyl record market.
Rapid urbanization: global urbanization is on the rise, with sellers adopting omnichannel retailing practices to reach more consumers.
Music enthusiasts and collectors: collectors, audiophiles and DJs value vinyl records as valuable assets for concerts, shows and music recordings. They also ...
2.3 New demand trends
Investing in vinyls: a growing trend
Vinyls have for some time now become valuable again and not just a memory of days gone by. In a world now turned to digital, vinyl has had a major resurgence that began as early as **** in which sales were at record levels.
It is ...
3 Market structure
3.1 The market structure
The analysis of the structure of the market related to vinyl records is carried out on the basis of data belonging to the category related to ATECO code **** (***). This category includes entrepreneurial and business activities that are engaged in the reproduction of audio and video materials recorded on various media. Specifically, ...
3.2 The value chain
The value chain in the vinyl record market can be divided into several key stages, summarized in the illustration below.
3.3 Distribution
Distribution channels for vinyl records are varied and include both physical outlets and online platforms. The main ones are summarized below:
Physical specialty stores: record stores have always been the main sales channels for vinyl records. These stores often offer a wide range of titles, including rare and collector's editions. Many ...
3.4 The main players
The following are the main players in the vinyl market in Italy, classified according to ATECO code ****
Europress vinyl srl: a European company involved in the production of vinyl records, particularly LPs (***). It focuses on offering complete services for the production of these records, including the creation of artistic covers. It ...
4 Supply analysis
4.1 Supply analysis
The vinyl record is composed of a rubbery material of polyvinyl chloride, a rigid but versatile plastic substance that is flexible and moldable.
To produce it, an initial wax disc is molded by hydraulic press, then painted with tin-silver chloride and used as a matrix to etch the grooves and create ...
4.2 The prices
The average price of vinyl records in Italy can vary depending on several factors, such as the artist, genre, and rarity of the edition. Below are some examples of vinyl record prices found in the most widely used platforms.
Feltrinelli
Audioglobe
Subito.it
4.3 New supply trends
Eco-friendly vinyls
In addition to sound performance, a new generation of eco-friendly vinyls is emerging, offering a sustainable alternative for those who wish to reduce the environmental impact of their music listening. Because vinyls are traditionally made from **** PVC, which is recyclable but in the process also releases a toxic material ...
5 Regulations
5.1 The legislation
Italian regulations governing music production and distribution are quite complex, as they involve several aspects. The most relevant areas are listed below.
Copyright: an instrument by which creative works are protected and enhanced. It arises automatically with the creation of the work: there is, therefore, no administrative formality to be followed ...
6 Positioning of actors
6.1 Segmentation
- Europress Vinyl srl
- Easyreplica International srl
- Subito.it
- Elettroformati srl
- Shelve srl
- Audioglobe srl
- Feltrinelli s.p.a
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