Sony goes retro with return to vinyl production

Sony goes retro with return to vinyl production

Sony goes retro with return to vinyl production

Sony did not say what music it will release in record format.

Displaying the same lack of vision that put its entire industry into a state of crisis just over a decade later, in 1989 Sony Music made a decision to stop making vinyl records, dismissing the format as outdated and cumbersome compared to the sleekness and portability of CDs.

While many would expect the vinyl revolution to be driven by older consumers via nostalgia, a full 70% of vinyl sales in 2016 was to consumers 35 and under. But instead of disappearing into the ether, vinyl has been making a comeback.

The audio giant, which is one of the world's biggest record companies, stopped pressing its own vinyl in 1989 as CDs took over consumer demand. At that point a more wieldy option-CDs-became the go-to choice of many music lovers.

The situation is similar in other developed countries, including Britain, where revenues from vinyl sales briefly surpassed those of digital music downloads last December.

Sales of vinyl records could reach $900 million in 2017. But those flaws added a depth and warmth to the music that even people who once owned extensive album collections had forgotten after years of listening to digital music.

Orders will also be accepted from outside record labels. Almost 800,000 vinyl records were sold in Japan previous year, Nikkei reported, an eightfold increase from 2010.

Despite its newfound popularity, vinyl is "unlikely to ever be a major growth or profit engine", according to the global consulting firm Deloitte.

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