Market Campaign For Vinyl Records

The days of vinyl records being a nostalgic relic of the past are long gone.

Market campaign for vinyl records.

The key players in the global market are gz media mpo international optimal media record industry and united record pressing. Plus the price of these vinyls. And yet the industry is still suffering. This compares to average prices of 8 39 for a cd and 7 14 for an album downloaded digitally.

The global vinyl record market grew at a cagr of around 7 during 2014 2019. Hmv has launched a new cinematic campaign that celebrates the brand having been the home of vinyl since 1921. The experience which vinyl records provide for music lovers is one of the major reasons for the increase in its demand. Vinyl records or lps have never been more popular.

You are required to independently research the market for vinyl records in the uk. This year vinyl sales have outpaced cd sales in the united states for the first time since the 1980s. Looking forward imarc group expects the global vinyl record market to continue its moderate growth during the next five years. Artists aren t seeing much profit.

Part a you have been asked to develop a marketing campaign for a record shop called wax perfection which sells vinyl records and associated products. The average price of a vinyl lp album in the uk in 2017 was 20 23. The global vinyl records market is expected to witness steady growth in the near future. The vinyl records market is segmented geographically into north america europe eastern europe western europe asia pacific latin america middle east and africa.

The 30 second ad which was filmed at the headquarters of middlesex based record label the vinyl factory features billy cobham s stratus as its soundtrack. After dying out twenty years ago they re back with a vengeance. Other key features of the uk vinyl record market that might be relevant to a marketing campaign. During the first two months of operation the company will have grand opening materials that will be prominently displayed as part of the vinyl record store s signage.

The shop owners want to increase awareness of their brand and attract more customers.