
Vinyl is cool again. Long-playing records, or LPs, have become a measure of the British economy’s health. In March 2024 the Office for National Statistics (ONS) announced that vinyl would again become one of the 700+ items used in its calculation of inflation.
Vinyl was dropped as an ONS metric 32 years ago, when demand for CDs was rising, but LPs have enjoyed a resurgence in popularity as more people seek them out for their charm and – many argue – better sound quality.
TGI data held within AMSR allow us to track the story in two trend charts. In 1977, 31% of us were LP buyers. This had dropped to 24% by 1987, when 2% of adults were early adopters of the new technology of CDs. By 2002 the picture had reversed – CDs were being bought by 30% of us, but LPs by only 1%.
The third line on this graph represents pre-recorded audio cassettes. Their growth peaked in 1992, when they had more buyers than either LPs or CDs – a function perhaps of their greater convenience and the 42% ownership of in-car radio-cassette players at this time. Their subsequent decline was swift, and they seem less likely to enjoy a renaissance.
Fast-forward to our second graph and we see CDs peaking in 2007 with 60% of adult purchasers. LPs and cassettes were no longer measured on TGI due to their insignificance. But at this point MP3 players, notably the iPod, were making ground quickly, and CD purchasing began to decline. 60% in 2007 became 46% in 2012 and 32% in 2017. Meanwhile by 2017 LPs had reappeared on TGI, which reported them at 8%. The highest reported source for purchasing was second-hand and charity shops – the vintage market.
CD purchasing halved between 2017 and 2022 to 15%. Meanwhile LPs stood steady; their 7% equates to 4 million purchasers. The biggest source is now specialist music shops – just the place to find the latest Taylor Swift album. Often the changes to ONS calculations reflect new trends or technologies, but in this case a cultural revival has affected our spending.
Sources:
TGI (Target Group Index) is a continuous survey which has been carried out in Great Britain since 1969, based on 25,000 adults per annum, who provide information on their use of all major products, brands and services. Media exposure, attitudinal and demographic data are also included. Kantar, who own and operate TGI, have made major donations of data to AMSR. To explore the TGI archive within AMSR, click here: Target Group Index – The AMSR Online Archive (oclc.org)
Contributed by Geoff Wicken
Date posted: 11th June 2024.