Some of the biggest names in the music industry—Harry Styles, Taylor Swift and Beyoncé—are on tour this year, turning consumer appetite towards nostalgic music consumption forms, including, seemingly, vinyl.
In keeping with that, the world’s leading music credits database Jaxsta (ASX: JXT) has unveiled VINYL, an extensive music catalogue featuring over 49,000 vinyl records available at the iconic URL, vinyl.com. Leveraging Jaxsta’s Official Music Credits, this collection offers a unique experience for both vinyl enthusiasts and music lovers. The vinyl revival continues to gain momentum, with vinyl album sales in the United States increasing for the 16th consecutive year.
According to the Recording Industry Association of America (RIAA), the U.S. witnessed the sale of 41.3 million records last year, a remarkable increase of over 45 times compared to 2006 when the resurgence of vinyl began. Today, VINYL officially launches in the United States, Canada, and Australia, with plans for further expansion into additional territories and product offerings in the near future.
CEO of Jaxsta, Beth Appleton, who has held the position for nearly a year, commented on the announcement, stating, “Whether you’re a creator, a collector, or a consumer, we are all music fans! The music industry continues to experience technological advancements, and it’s incredible to witness the return of vinyl, the purely analog music delivery format, which represents the highest selling form of music outside of streaming.”
The Company’s data shows that music lovers seek more than just a passive online listening experience, as the resurgence of vinyl over the past decade showcases. Music is not merely a commodity; it is an art form crafted by artists and their teams, cherished by fans. Albums and official music credits play vital roles in providing insight into the individuals involved in creating a recording.
VINYL is launching at a time when the vinyl resurgence, although significant, still falls short of the consumption levels witnessed in previous decades. The Vinyl Records Market is projected to grow at an impressive compound annual growth rate (CAGR) of 8.41% from 2022 to 2027.
Jaxsta’s goal is to establish a global music products marketplace that celebrates music and albums from around the world. This marketplace aims to foster connections between creators and fans while promoting and preserving the value of music. Alli Galloway, Head of Marketing, shared her enthusiasm, stating, “Through our VINYL pre-launch ‘Record of the Day’ campaign, which spanned 50 days, we witnessed the potential sales growth we can achieve. With our strategic marketing efforts and targeted outreach to key audiences in the US, Canada, and Australia, coupled with curated editorial content and engaging social messaging, we are excited and ambitious about the impact VINYL will have.”
Vinyl.com envisions an extraordinary experience associated with its iconic URL and aims to expand its offerings beyond vinyl records. In the near future, the platform plans to include merchandise, tickets, digital collectibles, and experiences that connect fans with creators, further enhancing the overall music experience.
Alinda is a Business Reporter for The Sentiment
Latest posts by Alinda Gupta (see all)
- Ovanti’s iSentric signs contracts worth $14.4m with Malaysian commercial bank - June 27, 2024
- Baby Bunting fights back from retail downturn with 5-year strategy, includes Gen-Z focus and self-funded growth - June 27, 2024
- CLEO meets with US FDA to develop strategy for ovarian cancer test launch - June 26, 2024
Leave a Comment
You must be logged in to post a comment.