Do you remember the first CD or vinyl you bought? Whether it was your favourite band or artist, begged your parents to buy it or saved up for it yourself, it probably has a special place in your heart due to the feeling of overwhelming nostalgia.
As the rise of digital music and streaming services continues to dominate the industry, the question of whether owning physical copies of music will become a thing of the past has become a topic of discussion.
While buying vinyl has come back into popularity as of late, it’s hard to tell whether the trend is here to stay or it’s just a passing fad that will eventually move back onto CDs before becoming an obscure memory to many.
Paul Hobson, 58, is the owner of Wax at Moorgate, a record store in Sheffield.
He says: “Holding a physical copy of something is wired into our DNA. We're collectors. All this ‘you'll own nothing and be happy’ bollocks isn't going to wash with most of our customers.”
“There is also something enjoyable about the physical act of playing a record and then sitting back and listening to it in album format and as the artist intended. Phones and devices rob us of this and shorten our attention span and make us flit about in a most unsatisfactory way.
“Shops like ours survive by being places customers like to visit. Many people are loyal and they value the experience a retailer can offer. Those that aren't will buy online and everything will become soulless.
“I grew up buying records from people who recommended new music to me. They understood bands I liked and said "hey you'll love this". Often they were right. That's what retail is about.”
According to The Official Charts, 2022 saw the largest volume of vinyl sales since 1990 with 5.5 million units sold in the UK which hit a figure of £116.8 million.
This was a 23 per cent increase from the previous year, while CD sales continued to decrease by 3.9 per cent which gives you an indication of the current trend of music sales.
Physical goods, it appears, still hold value for many people, even in the digital age.
Interestingly, vinyl LPs appear to have become a bit of a collectors' item for fans, who listen to music digitally but still want to own a physical object.
According to Luminate an online database about music, only 50 per cent of vinyl buyers actually have a record player.
But how long can this resurgence last before record labels begin to up the prices of records causing loyal fans and collectors to be phased out?
Mark Elliot, 65, is the owner of Record Collector, a Sheffield-based record store across the city from Wax at Moorgate.
He says: “Vinyl continues to increase in sales yet the large labels are teetering on the brink of damaging this by forcing their prices up all the time and this is something we hate.
“When this happens people are more cautious with their spending and they often spend the same amount of money buying good, used vinyl instead.
“Buying records and something physical isn't consumerism because most people who collect vinyl don't throw it away. They look after it and build music libraries. It is extremely enjoyable to browse music this way.
“I'd say that the only thing that can derail the sales of vinyl is corporate greed. Corporate greed will always eat itself in the end and if prices go too high they will destroy their own business.”
While the introduction of streaming initially threatened the music retail sector, its access to huge libraries of music has actually benefited stores like Record Collector and Wax at Moorgate.
Customers can now do their research by listening to an album before they buy it, as opposed to relying on reviews and recommendations, both of which can be subjective.
This means that different types and genres of music are easily accessible and don't carry the same kind of financial risk as they did previously.
Paul says: “Sales are through the roof. While streaming has some downsides it does introduce people to new music and that's a good thing.
“As a result of the likes of Spotify, I’m able to purchase stock based on customers' demands and a lot of it is new and different as these services can expose people to music that they might otherwise never have owned.”
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