Summary of our market study

Since 2020, the vinyl record market has experienced significant growth both globally and in Italy. In 2020, vinyl sales grew by 121% in Italy, even surpassing CD sales for the first time since 1991. The Italian market witnessed a positive balance in the first half of 2023, with an overall growth of 14.2% and a turnover exceeding 175 million euros. Streaming dominates the Italian music scenario, but vinyl sales continue to see an upward trend, growing by 14.3%. The global vinyl market is also thriving; U.S. vinyl album revenues made up 62% of total physical media revenues in the first half of the year, with vinyl sales accounting for 71% of physical format music revenues. The European vinyl record market is expected to grow by $91 million by 2024, with notable growth in England, Germany, and Italy. Despite import-export fluctuations, Italy remains primarily an importer in foreign trade for recording devices. The COVID-19 pandemic initially impacted vinyl production and distribution, but demand surged during lockdowns, with significant revenue growth in the physical media segment as a result of the pandemic, especially for vinyl records..--- The Revival of Vinyl: Nostalgia Meets Modernity in the Italian Market In the heart of Europe, amidst a digital revolution where streaming reigns supreme, Italy has witnessed a remarkable resurgence in the demand for vinyl records—a format that was once thought to be obsolete. Embracing both nostalgia and the distinct warmth of analog sound, the Italian music market has seen vinyl not merely survive but thrive in modern times. Between the years 2016 and 2017, vinyl sales soared, increasing by approximately 50 percent, which brought the revenue to more than 10 million euros—a figure reminiscent of the format's golden years. The year 2020 was a watershed moment as vinyl outstripped CD sales for the first time since 1991, recording a growth of more than 100 percent from the preceding year, while CDs suffered a loss of around 5 percent. These robust sales numbers are reflective of a larger global trend that has placed vinyl records back on the pedestal. The United States, a bellwether for music consumption trends, has seen vinyl revenues reach approximately 60 percent of total physical media revenues. This is part of an ongoing surge, with a compound annual growth rate (CAGR) estimated at around 15 percent between 2021 and 2026. E-commerce has proven to be the pulse of the vinyl revival, fueling growth even amid the challenges of a global pandemic. Notably, the lockdown period saw an upswing in vinyl sales which undeniably suggests a yearning for physical connection to music during times of isolation. Additionally, the re-release of iconic albums, such as The Beatles' "Abbey Road," has attracted both long-time enthusiasts and younger generations to the allure of vinyl. The Italian market, aligning with global patterns, has shown a substantial uptick. Despite the dominance of streaming — which accounted for approximately 84 percent of the market — vinyl has carved out a significant niche of its own. During the first half of 2023, vinyl records in Italy saw a spike of over 10 percent in sales, signaling a buoyant market for this time-honored medium. The Italian music consumption landscape paints a diverse picture. While streaming services maintain their stronghold, the physical segment, which encompasses both CDs and vinyl records, still claims a substantial 16-percent market share. This renaissance is underlined by the fact that nearly 10 percent of consumers purchased vinyl records in the most recent months. On the supply side, Italy's return to vinyl has fueled a cottage.### Key Figures in Italy's Resurgent Vinyl Scene The Italian vinyl record market is sustained by a core group of dedicated companies, each playing a pivotal role in the resurgence of this classic music format. Their contributions span from production to distribution, ensuring that music lovers across the country—and indeed, across Europe—can enjoy the distinctive warmth and tangible experience that only vinyl can offer. Below, we explore the roles and expertise of these cornerstone enterprises driving Italy's vinyl renaissance. #### Europress Vinyl SRL: The Artisans of Analog Sound Europress Vinyl SRL is a central figure in the European world of vinyl record production, especially known for crafting long-play records (LPs). With customer satisfaction at the forefront of their business, Europress Vinyl provides a full suite of vinyl production services, including creating artistic covers that often become collector’s items in their own right. Their offering has charmed approximately 150 clients all over Europe, delivering about 1.5 million LPs per year—an impressive feat in an industry that seemed all but extinct a few decades ago. #### Easyreplica International SRL: Pioneers of Replication Precision A true veteran in the duplication sphere since 2005, Easyreplica International SRL is situated in Pesaro, with an additional packaging and assembling facility in Peschiera Borromeo. Serving both local companies and major international labels, this company has carved out a niche in replicating various media formats, from CDs and DVDs to vinyls and Blu-rays. With a staggering daily production capacity of 150,000 pieces, Easyreplica International stands out not just for its replication prowess, but for its specialization in offset and screen printing for discs, guaranteeing that each product they produce has visual appeal as well as auditory excellence. #### Elettroformati SRL: Vinyl Visual Virtuosos With its roots going back to 1966, Elettroformati SRL bears the badge of experience and resilience in an industry that has seen monumental shifts. Based in Milan, this company has demonstrated an uncanny ability to read the changing tides of the vinyl market and respond with innovation. Through decades of transition from vinyl to CDs to DVDs and back to vinyl again, Elettroformati has remained a stronghold in the market, capitalizing on the rebirth of vinyl by offering exquisite printing and styling services for records, echoing the desires of a passionate and ever-evolving client base. #### Shelve SRL: The Guardians of Music Memory Established in 1998 in

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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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Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Europress Vinyl srl
Easyreplica International srl
Subito.it
Elettroformati srl
Shelve srl
Audioglobe srl
Feltrinelli s.p.a

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